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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $33.8571.

Several research firms have issued reports on PARR. TD Cowen decreased their price target on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Piper Sandler raised their target price on shares of Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. Cowen reiterated a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th.

Par Pacific Trading Down 1.5%

Par Pacific stock opened at $34.89 on Thursday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -124.59 and a beta of 1.74. Par Pacific has a 1 year low of $11.86 and a 1 year high of $38.60. The firm’s 50 day moving average price is $32.66 and its two-hundred day moving average price is $24.90.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.80. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.49 earnings per share. On average, research analysts predict that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Transactions at Par Pacific

In related news, CAO Ivan Daniel Guerra sold 5,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the sale, the chief accounting officer directly owned 17,491 shares of the company’s stock, valued at approximately $614,109.01. This represents a 23.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $27.97, for a total value of $144,437.08. Following the completion of the sale, the senior vice president directly owned 41,223 shares of the company’s stock, valued at approximately $1,153,007.31. This represents a 11.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. increased its stake in shares of Par Pacific by 19.7% in the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock worth $154,000 after acquiring an additional 961 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Par Pacific in the second quarter worth $2,834,000. Caxton Associates LLP acquired a new position in shares of Par Pacific in the second quarter worth $3,429,000. Tower Research Capital LLC TRC increased its stake in shares of Par Pacific by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 12,134 shares of the company’s stock worth $322,000 after acquiring an additional 5,018 shares during the last quarter. Finally, Ion Asset Management Ltd. acquired a new position in shares of Par Pacific in the second quarter worth $838,000. 92.15% of the stock is owned by institutional investors and hedge funds.

About Par Pacific

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.