Brokerages Set Par Pacific Holdings, Inc. (NYSE:PARR) Price Target at $67.00

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have earned an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $67.00.

PARR has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Piper Sandler lifted their price target on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Mizuho lifted their price target on shares of Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. Finally, The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.00 to $77.00 in a research report on Friday, April 10th.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds have recently made changes to their positions in PARR. Vanguard Group Inc. grew its position in shares of Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock worth $178,680,000 after buying an additional 1,190,088 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Par Pacific by 7,787.1% during the fourth quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock worth $19,816,000 after buying an additional 556,780 shares in the last quarter. American Century Companies Inc. grew its position in shares of Par Pacific by 42.8% during the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after buying an additional 456,473 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Par Pacific by 810.8% during the fourth quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock worth $12,645,000 after buying an additional 320,326 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Par Pacific by 22.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock worth $62,203,000 after buying an additional 317,484 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Stock Performance

Par Pacific stock opened at $57.27 on Monday. Par Pacific has a 12-month low of $12.77 and a 12-month high of $67.39. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 7.86 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49. The firm’s fifty day moving average price is $53.10 and its 200 day moving average price is $44.02.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the firm earned ($0.79) EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, research analysts forecast that Par Pacific will post 0.15 EPS for the current fiscal year.

About Par Pacific

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.