Par Pacific Holdings, Inc. (NYSE:PARR) Receives $26.50 Average PT from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) have received an average recommendation of "Hold" from the eight research firms that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $26.50.

A number of research firms have recently weighed in on PARR. Mizuho downgraded Par Pacific from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a "buy" rating to a "hold" rating in a research note on Monday, September 9th. Piper Sandler lowered shares of Par Pacific from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. raised shares of Par Pacific from a "neutral" rating to an "overweight" rating and reduced their price objective for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Finally, StockNews.com raised shares of Par Pacific from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th.

Insider Activity

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares of the company's stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently modified their holdings of the business. Headlands Technologies LLC lifted its stake in shares of Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock valued at $29,000 after buying an additional 796 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific during the 2nd quarter worth approximately $43,000. Quarry LP raised its stake in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company's stock valued at $60,000 after purchasing an additional 2,027 shares in the last quarter. nVerses Capital LLC lifted its position in Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company's stock worth $86,000 after purchasing an additional 1,000 shares during the period. Finally, Innealta Capital LLC acquired a new stake in Par Pacific during the second quarter worth $104,000. 92.15% of the stock is owned by institutional investors.

Par Pacific Price Performance

NYSE PARR traded up $0.58 on Tuesday, reaching $16.14. The company's stock had a trading volume of 359,597 shares, compared to its average volume of 920,542. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm's 50 day moving average is $16.69 and its two-hundred day moving average is $20.35. The stock has a market cap of $903.07 million, a PE ratio of 3.13 and a beta of 1.99.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm's revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.15 earnings per share. As a group, sell-side analysts predict that Par Pacific will post 1.12 EPS for the current 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.