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

Par Pacific Holdings, Inc. (NYSE:PARR) has received an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.29.

PARR has been the topic of a number of recent analyst reports. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group dropped their price objective on Par Pacific from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Friday, January 31st.

Insider Buying and Selling at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company’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 directly owns 524,610 shares in the company, valued at $8,509,174.20. This 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 through the SEC website. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in Par Pacific during the third quarter worth about $61,870,000. State Street Corp lifted its position in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after buying an additional 328,325 shares during the period. Harbor Capital Advisors Inc. lifted its position in Par Pacific by 160.2% during the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares during the period. Walleye Capital LLC lifted its position in Par Pacific by 1,014.3% during the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after buying an additional 249,290 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Par Pacific by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company’s stock worth $14,902,000 after buying an additional 167,594 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Trading Down 1.2 %

NYSE:PARR opened at $17.29 on Wednesday. The firm has a market cap of $967.30 million, a P/E ratio of 3.35 and a beta of 1.99. 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 stock’s 50 day simple moving average is $16.82 and its 200-day simple moving average is $18.47. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69.

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.