Par Pacific Holdings, Inc. (NYSE:PARR) Receives $26.50 Average Target Price from Brokerages

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $26.50.

PARR has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price target on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PARR. Pacer Advisors Inc. purchased a new stake in Par Pacific in the 3rd quarter worth approximately $61,870,000. State Street Corp lifted its position in shares of Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after purchasing an additional 328,325 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Par Pacific by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after purchasing an additional 17,509 shares in the last quarter. Millennium Management LLC increased 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 valued at $49,307,000 after buying an additional 636,908 shares during the period. Finally, American Century Companies Inc. raised its stake in Par Pacific by 13.9% in the second quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after buying an additional 175,331 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Trading Down 0.9 %

PARR opened at $16.19 on Tuesday. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The firm has a market capitalization of $905.86 million, a PE ratio of 3.14 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The company’s 50-day moving average is $16.57 and its 200 day moving average is $20.14.

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

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.