Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $84.2857.

Several research analysts have recently weighed in on PARR shares. Raymond James Financial lifted their target price on shares of Par Pacific from $90.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Mizuho increased their target price on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Finally, Guggenheim upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the transaction, the chief executive officer owned 457,167 shares in the company, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 54,248 shares of company stock worth $4,394,057. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new position in Par Pacific during the first quarter valued at about $16,277,000. BNP Paribas Financial Markets increased its holdings in shares of Par Pacific by 22.5% during the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock valued at $17,811,000 after acquiring an additional 93,249 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Par Pacific by 170.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company’s stock valued at $3,916,000 after acquiring an additional 39,404 shares in the last quarter. Jackson Creek Investment Advisors LLC lifted its holdings in Par Pacific by 325.0% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock worth $1,807,000 after purchasing an additional 39,329 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new stake in Par Pacific during the fourth quarter worth approximately $6,985,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

PARR opened at $84.95 on Thursday. The business has a fifty day simple moving average of $78.09 and a 200-day simple moving average of $65.19. The firm has a market cap of $4.26 billion, a PE ratio of 4.96 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. Par Pacific has a fifty-two week low of $33.21 and a fifty-two week high of $87.03.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.Par Pacific’s revenue for the quarter was up 56.8% on a year-over-year basis. During the same quarter last year, the company posted $1.54 EPS. As a group, equities analysts predict that Par Pacific will post 22.21 EPS for the current fiscal year.

About Par Pacific

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.