Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) PT at $33.17

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have earned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $32.33.

A number of analysts have issued reports on PARR shares. Piper Sandler reduced their price objective on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. TD Cowen reduced their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. reduced their price objective on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Finally, UBS Group reduced their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PARR. Victory Capital Management Inc. raised its position in shares of Par Pacific by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after acquiring an additional 4,184 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Par Pacific by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock valued at $23,473,000 after buying an additional 9,650 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Par Pacific by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock valued at $77,589,000 after buying an additional 12,777 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Par Pacific by 473.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock valued at $1,730,000 after buying an additional 39,263 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Stock Up 2.4 %

NYSE PARR opened at $19.40 on Friday. The stock’s 50-day moving average price is $22.73 and its 200-day moving average price is $27.91. The company has a market capitalization of $1.09 billion, a P/E ratio of 2.43 and a beta of 1.99. Par Pacific has a 52 week low of $18.00 and a 52 week high of $40.69. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company earned $1.73 EPS. On average, equities research analysts predict that Par Pacific will post 2.01 earnings per share for the current 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.