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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given a consensus rating of “Hold” by the eight analysts that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $28.00.

A number of research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $23.00 in a report on Friday, September 20th. Finally, TD Cowen cut their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of PARR. Headlands Technologies LLC raised its holdings in Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Par Pacific in the 2nd quarter worth about $43,000. Quarry LP raised its position in Par Pacific by 610.5% in the 2nd 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. nVerses Capital LLC lifted its stake in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the period. Finally, Innealta Capital LLC purchased a new stake in shares of Par Pacific during the 2nd quarter valued at about $104,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

Shares of PARR opened at $17.40 on Friday. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company has a market cap of $973.56 million, a PE ratio of 3.37 and a beta of 1.99. The stock has a 50-day moving average price of $17.38 and a 200-day moving average price of $21.78.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm’s revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.15 EPS. As a group, equities analysts forecast that Par Pacific will post 0.95 earnings per share for the current fiscal year.

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.