Par Pacific Holdings, Inc. (NYSE:PARR) Given Consensus Recommendation of “Hold” by Analysts

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $30.00.

PARR has been the subject of several recent analyst reports. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $23.00 in a research report on Friday. UBS Group decreased their price objective on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. dropped their target price on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Mizuho cut their price target on shares of Par Pacific from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. Finally, Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research report on Monday, September 9th.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of PARR. TD Asset Management Inc increased its stake in Par Pacific by 46.4% in the 4th quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock worth $3,797,000 after purchasing an additional 33,100 shares during the period. Acadian Asset Management LLC bought a new position in shares of Par Pacific in the first quarter worth approximately $978,000. Hennessy Advisors Inc. increased its stake in shares of Par Pacific by 18.7% in the first quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after buying an additional 134,600 shares during the period. Paragon Associates & Paragon Associates II Joint Venture bought a new stake in Par Pacific during the 4th quarter valued at $1,637,000. Finally, Russell Investments Group Ltd. boosted its position in Par Pacific by 14.9% during the 1st quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock valued at $7,579,000 after buying an additional 26,485 shares during the period. Institutional investors own 92.15% of the company’s stock.

Par Pacific Trading Down 1.7 %

Shares of Par Pacific stock opened at $19.35 on Friday. The company’s 50-day moving average price is $22.48 and its 200-day moving average price is $27.69. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. Par Pacific has a 12-month low of $18.00 and a 12-month high of $40.69. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 2.42 and a beta of 1.99.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $1.73 EPS. On average, equities analysts expect that Par Pacific will post 2.01 earnings per share for the current fiscal year.

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.