Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and nine have assigned a 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 $70.00.

Several research analysts recently weighed in on PARR shares. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. Raymond James Financial lifted their price objective on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $53.00 to $77.00 in a research note on Friday, April 10th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Finally, JPMorgan Chase & Co. raised their target price on Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th.

Par Pacific Price Performance

Par Pacific stock opened at $58.56 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 6.54 and a beta of 0.82. The company’s fifty day moving average price is $58.15 and its 200 day moving average price is $50.58. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. Par Pacific has a 1 year low of $26.83 and a 1 year high of $70.39.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company posted ($0.94) earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts anticipate that Par Pacific will post 16.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in Par Pacific during the 1st quarter worth $26,000. EverSource Wealth Advisors LLC raised its position in shares of Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after buying an additional 173 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Par Pacific in the third quarter worth about $48,000. Smartleaf Asset Management LLC lifted its stake in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after buying an additional 1,558 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.