Brokerages Set Par Pacific Holdings, Inc. (NYSE:PARR) PT at $44.00

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $44.00.

Several equities analysts have issued reports on PARR shares. The Goldman Sachs Group lifted their target price on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Tudor, Pickering, Holt & Co. raised shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, November 6th. Piper Sandler set a $57.00 price target on Par Pacific in a research report on Monday, January 12th. Finally, Mizuho upped their target price on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th.

Insider Activity

In related news, CEO William Monteleone sold 99,284 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at $18,253,399.30. This trade represents a 19.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $41.22, for a total transaction of $653,254.56. Following the completion of the sale, the executive vice president owned 54,654 shares of the company’s stock, valued at $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after acquiring an additional 753 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Par Pacific by 157.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after purchasing an additional 976 shares during the period. Federated Hermes Inc. purchased a new position in shares of Par Pacific in the third quarter worth about $44,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Par Pacific during the third quarter worth about $48,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Stock Up 3.6%

NYSE:PARR opened at $37.77 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. The firm has a market cap of $1.90 billion, a PE ratio of 7.95 and a beta of 1.24. The company has a 50-day moving average of $38.90 and a 200 day moving average of $36.50. Par Pacific has a 1-year low of $11.86 and a 1-year high of $48.40.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping the consensus estimate of $1.98 by $3.97. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The company’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. As a group, research analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.