Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Recommendation of “Hold” from Brokerages

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $25.83.

A number of equities analysts have recently commented on PARR shares. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $23.00 in a report on Friday, September 20th. JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. The Goldman Sachs Group cut their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Finally, Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $22.00 in a research report on Monday, December 16th.

Insider Transactions at Par Pacific

In other news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PARR. GAMMA Investing LLC increased its holdings in Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after purchasing an additional 1,167 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after buying an additional 700 shares in the last quarter. Quarry LP increased its stake in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after buying an additional 2,027 shares during the last quarter. FMR LLC raised its holdings in Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in Par Pacific in the third quarter valued at $185,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Up 1.7 %

PARR opened at $18.12 on Friday. Par Pacific has a 12 month low of $14.84 and a 12 month high of $40.69. The business has a 50-day moving average of $16.79 and a two-hundred day moving average of $19.43. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.51 and a beta of 2.00.

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

About Par Pacific

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.