Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) Price Target at $26.50

Par Pacific Holdings, Inc. (NYSE:PARR) has been given a consensus recommendation of “Hold” by the eight analysts that are covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $26.50.

Several analysts have recently issued reports on PARR shares. The Goldman Sachs Group cut their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and decreased their price objective for the company from $36.00 to $30.00 in a report on Wednesday, October 2nd. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Finally, Tudor Pickering raised shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th.

Par Pacific Price Performance

NYSE:PARR opened at $16.34 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific has a 52 week low of $14.84 and a 52 week high of $40.69. The stock’s 50-day moving average price is $16.60 and its 200-day moving average price is $20.23. The stock has a market capitalization of $914.26 million, a PE ratio of 3.17 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Par Pacific’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period last year, the company earned $3.15 earnings per share. As a group, equities analysts expect that Par Pacific will post 1.12 EPS for the current fiscal year.

Insider Activity

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

Hedge Funds Weigh In On Par Pacific

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

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.