Par Pacific Holdings, Inc. (NYSE:PARR) Receives $22.57 Average PT from Brokerages

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $22.57.

PARR has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. StockNews.com lowered Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. 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 report on Thursday, January 16th. Raymond James initiated coverage on Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target on the stock. Finally, Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PARR. Walleye Capital LLC increased its stake in Par Pacific by 1,014.3% during the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after buying an additional 249,290 shares during the period. State Street Corp increased its stake in shares of Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after acquiring an additional 328,325 shares during the period. Sanctuary Advisors LLC raised its holdings in Par Pacific by 126.2% during the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company’s stock worth $843,000 after purchasing an additional 27,480 shares in the last quarter. Algert Global LLC lifted its position 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 purchasing an additional 118,393 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Par Pacific by 7.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock valued at $2,248,000 after purchasing an additional 8,844 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Up 8.7 %

Shares of NYSE PARR opened at $14.09 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. Par Pacific has a 1 year low of $11.86 and a 1 year high of $40.20. The stock’s 50-day simple moving average is $16.00 and its 200-day simple moving average is $17.01. The firm has a market cap of $771.56 million, a price-to-earnings ratio of 2.73 and a beta of 2.01.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. As a group, equities analysts anticipate that Par Pacific will post 0.15 earnings per share for the current fiscal year.

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.