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

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $22.57.

A number of analysts have weighed in on the company. TD Cowen reduced their target price on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. The Goldman Sachs Group reduced their target price on Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com lowered Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th.

Par Pacific Stock Up 2.2 %

Shares of PARR opened at $13.22 on Friday. The company has a market cap of $723.93 million, a PE ratio of 2.56 and a beta of 2.01. The business has a fifty day moving average of $16.33 and a 200 day moving average of $17.32. Par Pacific has a 52-week low of $11.86 and a 52-week high of $40.20. 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 (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, sell-side analysts expect that Par Pacific will post 0.15 EPS for the current year.

Insider Activity

In other Par Pacific news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction dated 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 transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC grew its stake in Par Pacific by 1,014.3% in the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after purchasing an additional 249,290 shares during the last quarter. State Street Corp grew its stake in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after purchasing an additional 328,325 shares during the last quarter. Sanctuary Advisors LLC grew its stake in Par Pacific by 126.2% in the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company’s stock valued at $843,000 after purchasing an additional 27,480 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Par Pacific by 7.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock worth $2,248,000 after acquiring an additional 8,844 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Par Pacific by 63.8% in the third quarter. Algert Global LLC now owns 303,970 shares of the company’s stock worth $5,350,000 after acquiring an additional 118,393 shares in the last quarter. 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.