Par Pacific Holdings, Inc. (NYSE:PARR) Stock Has Consensus Price Target of $84.29 According to Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned a consensus rating of “Buy” from the thirteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $84.29.

Several research firms recently commented on PARR. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. UBS Group restated a “neutral” rating on shares of Par Pacific in a research note on Wednesday, August 26th. Mizuho raised their price target on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, September 8th. Finally, TD Cowen decreased their price objective on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th.

Par Pacific Stock Performance

Shares of PARR opened at $85.81 on Monday. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 5.01 and a beta of 0.75. The business’s fifty day simple moving average is $80.06 and its two-hundred day simple moving average is $68.54. Par Pacific has a 12 month low of $33.21 and a 12 month high of $89.45. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.88. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The company’s revenue was up 56.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.54 earnings per share. Research analysts anticipate that Par Pacific will post 23.74 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In related news, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy Clossey sold 10,970 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the sale, the director owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,248 shares of company stock worth $4,394,057 in the last ninety days. Insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PARR. EverSource Wealth Advisors LLC grew its position in Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after acquiring an additional 173 shares during the last quarter. Birchbrook Inc. increased its stake in Par Pacific by 12.8% in the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after purchasing an additional 385 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Par Pacific during the first quarter worth $26,000. Pictet Asset Management Holding SA lifted its position in shares of Par Pacific by 6.4% during the first quarter. Pictet Asset Management Holding SA now owns 7,598 shares of the company’s stock worth $476,000 after purchasing an additional 455 shares during the last quarter. Finally, Corient Private Wealth LP boosted its stake in shares of Par Pacific by 12.8% during the second quarter. Corient Private Wealth LP now owns 5,826 shares of the company’s stock valued at $327,000 after purchasing an additional 663 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Par Pacific

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.