Par Pacific Holdings, Inc. (NYSE:PARR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARRGet Free Report) have received an average recommendation of “Moderate Buy” from the thirteen analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $81.5714.

PARR has been the subject of several research reports. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. Piper Sandler increased their target price on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Evercore upgraded Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th.

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Institutional Investors Weigh In On Par Pacific

Hedge funds and other institutional investors have recently modified their holdings of the company. Birchbrook Inc. lifted its holdings in shares of Par Pacific by 12.8% during the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after buying an additional 385 shares in the last quarter. GK Wealth Management LLC acquired a new position in shares of Par Pacific in the second quarter valued at about $317,000. Pacer Advisors Inc. bought a new position in Par Pacific during the first quarter worth about $16,277,000. NewEdge Advisors LLC bought a new position in Par Pacific during the first quarter worth about $26,000. Finally, Systematic Alpha Investments LLC bought a new position in Par Pacific during the first quarter worth about $351,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of PARR opened at $79.34 on Wednesday. The company’s 50-day moving average is $61.51 and its 200-day moving average is $55.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The firm has a market capitalization of $3.98 billion, a PE ratio of 8.85 and a beta of 0.82. Par Pacific has a fifty-two week low of $26.83 and a fifty-two week high of $82.29.

Par Pacific (NYSE:PARRGet Free Report) last announced its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate 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 the consensus estimate of $1.78 billion. During the same period in the previous year, the firm posted ($0.94) EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Equities analysts forecast that Par Pacific will post 18.6 EPS for the current year.

About Par Pacific

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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 Oʻahu, 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.

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Analyst Recommendations for Par Pacific (NYSE:PARR)

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