Par Pacific Holdings, Inc. (NYSE:PARR) Receives Consensus Rating of “Hold” from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given an average rating of “Hold” by the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $25.71.

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reduced their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. The Goldman Sachs Group reduced their price objective on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Raymond James initiated coverage on Par Pacific in a research note on Friday. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $22.00 in a research note on Monday, December 16th.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. bought a new position in shares of Par Pacific during the third quarter worth about $61,870,000. State Street Corp raised its position in shares of Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after acquiring an additional 328,325 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Par Pacific by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after acquiring an additional 17,509 shares during the last quarter. Millennium Management LLC raised its position in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after acquiring an additional 636,908 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Par Pacific by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock worth $22,591,000 after acquiring an additional 7,804 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Performance

PARR opened at $17.49 on Friday. The firm has a market cap of $978.79 million, a P/E ratio of 3.39 and a beta of 2.00. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. 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 business’s fifty day moving average is $16.87 and its 200-day moving average is $19.12.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping 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% on a year-over-year basis. During the same period in the prior year, the firm posted $3.15 EPS. Sell-side analysts expect that Par Pacific will post 0.14 EPS 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.