Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) Price Target at $28.00

Par Pacific Holdings, Inc. (NYSE:PARR) has been given an average recommendation of “Hold” by the eight research firms that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $28.00.

PARR has been the subject of several recent analyst reports. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Sandler cut 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. UBS Group reduced 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. Mizuho dropped their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th.

Par Pacific Trading Up 9.5 %

Shares of Par Pacific stock opened at $16.54 on Monday. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. The company has a market capitalization of $931.70 million, a P/E ratio of 3.21 and a beta of 1.99. The company has a fifty day moving average of $18.36 and a 200 day moving average of $23.29.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 9.96%. Par Pacific’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period last year, the company posted $3.15 earnings per share. On average, sell-side analysts anticipate that Par Pacific will post 0.76 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Par Pacific during the 1st quarter worth about $341,000. Janney Montgomery Scott LLC increased its holdings in Par Pacific by 5.4% during the first quarter. Janney Montgomery Scott LLC now owns 50,149 shares of the company’s stock valued at $1,859,000 after buying an additional 2,589 shares during the period. Capstone Investment Advisors LLC bought a new position in Par Pacific in the first quarter worth approximately $424,000. Daiwa Securities Group Inc. bought a new position in Par Pacific in the first quarter worth approximately $296,000. Finally, GSA Capital Partners LLP lifted its holdings in Par Pacific by 11.1% during the first quarter. GSA Capital Partners LLP now owns 15,938 shares of the company’s stock worth $591,000 after buying an additional 1,594 shares during the period. 92.15% of the stock is currently owned by institutional investors.

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.