Par Pacific Holdings, Inc. (NYSE:PARR) Stock Has Consensus Price Target of $90.43

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received an average recommendation of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $90.43.

Several brokerages have recently weighed in on PARR. UBS Group reissued a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and set a $91.00 target price for the company. in a research note on Thursday, October 8th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. The Goldman Sachs Group cut Par Pacific from a “buy” rating to a “neutral” rating and raised their target price for the stock from $90.00 to $94.00 in a research report on Thursday, October 15th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $117.00 price target on shares of Par Pacific in a research note on Monday, October 19th.

Par Pacific Stock Down 0.9%

PARR stock opened at $69.03 on Friday. Par Pacific has a twelve month low of $34.37 and a twelve month high of $90.74. The company has a market cap of $3.46 billion, a PE ratio of 3.62 and a beta of 0.82. The business’s 50-day simple moving average is $80.93 and its 200 day simple moving average is $64.58. 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 (NYSE:PARR) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $10.70 EPS for the quarter, beating the consensus estimate of $6.65 by $4.05. Par Pacific had a return on equity of 67.59% and a net margin of 9.81%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the firm posted $5.95 EPS. The company’s revenue for the quarter was up 51.6% on a year-over-year basis. On average, research analysts anticipate that Par Pacific will post 26.42 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO William Monteleone sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $37,167,677.10. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy Clossey sold 10,970 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the transaction, the director directly owned 51,526 shares of the company’s stock, valued at $4,328,184. The trade was a 17.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. SBI Securities Co. Ltd. grew its position in Par Pacific by 25.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 764 shares of the company’s stock worth $62,000 after acquiring an additional 157 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after purchasing an additional 173 shares in the last quarter. Choreo LLC raised its position in Par Pacific by 5.1% in the 3rd quarter. Choreo LLC now owns 4,803 shares of the company’s stock valued at $392,000 after purchasing an additional 232 shares during the last quarter. State of Wyoming raised its position in Par Pacific by 2.0% in the 3rd quarter. State of Wyoming now owns 11,702 shares of the company’s stock valued at $955,000 after purchasing an additional 232 shares during the last quarter. Finally, Signaturefd LLC raised its position in Par Pacific by 11.3% in the 3rd quarter. Signaturefd LLC now owns 2,448 shares of the company’s stock valued at $200,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.