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

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $22.71.

PARR has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Raymond James initiated coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. TD Cowen decreased their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $18.00 to $19.00 in a research report on Thursday, March 27th. Finally, Piper Sandler decreased their price objective on Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, March 7th.

Par Pacific Stock Performance

Shares of PARR opened at $15.01 on Thursday. The firm has a market cap of $821.77 million, a P/E ratio of 2.91 and a beta of 2.01. Par Pacific has a twelve month low of $11.86 and a twelve month high of $40.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm’s 50 day moving average price is $15.19 and its two-hundred day moving average price is $16.47.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, analysts forecast that Par Pacific will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

A number of institutional investors have recently bought and sold shares of the business. Solas Capital Management LLC boosted its stake in shares of Par Pacific by 417.7% during the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock worth $13,030,000 after acquiring an additional 641,423 shares during the period. Millennium Management LLC boosted its position in Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock worth $31,744,000 after purchasing an additional 586,003 shares during the period. Bridgewater Associates LP acquired a new position in shares of Par Pacific in the fourth quarter valued at $9,293,000. State Street Corp raised its position in shares of Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after purchasing an additional 328,325 shares during the period. Finally, Barclays PLC lifted its stake in shares of Par Pacific by 53.0% during the 4th quarter. Barclays PLC now owns 718,688 shares of the company’s stock worth $11,779,000 after buying an additional 249,048 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.