Par Pacific Holdings, Inc. (NYSE:PARR) Given Average Rating of “Hold” by Brokerages

Par Pacific Holdings, Inc. (NYSE:PARR) has received an average rating of “Hold” from the eight brokerages that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $26.50.

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $37.00 to $23.00 in a research report on Friday, September 20th. The Goldman Sachs Group cut their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Finally, Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Monday, December 16th.

Par Pacific Price Performance

Par Pacific stock opened at $15.56 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The firm has a market cap of $870.61 million, a PE ratio of 3.02 and a beta of 1.99. The company’s 50 day moving average is $16.73 and its two-hundred day moving average is $20.42.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the firm earned $3.15 earnings per share. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, research analysts expect that Par Pacific will post 1.12 EPS for the current fiscal year.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Par Pacific by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 518,708 shares of the company’s stock worth $13,097,000 after buying an additional 4,877 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Par Pacific by 113.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 20,896 shares of the company’s stock valued at $528,000 after purchasing an additional 11,092 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Par Pacific by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,462 shares of the company’s stock worth $363,000 after purchasing an additional 1,139 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Par Pacific during the second quarter worth approximately $104,000. Finally, Commonwealth Equity Services LLC purchased a new position in Par Pacific during the second quarter valued at approximately $275,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.