Par Pacific Holdings, Inc. (NYSE:PARR) Given Average Rating of “Hold” by Brokerages

Par Pacific Holdings, Inc. (NYSE:PARR) has been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $28.00.

PARR has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Wednesday. 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 report on Friday, August 9th. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $37.00 to $23.00 in a report on Friday, September 20th.

Par Pacific Stock Up 1.4 %

Shares of PARR opened at $16.14 on Monday. The company has a market capitalization of $909.17 million, a P/E ratio of 3.13 and a beta of 1.99. Par Pacific has a one year low of $14.84 and a one year high of $40.69. The business’s 50 day simple moving average is $18.14 and its 200-day simple moving average is $23.19. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59.

Par Pacific (NYSE:PARR) last announced its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 9.96% and a net margin of 3.74%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business earned $3.15 earnings per share. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. As a group, sell-side analysts predict that Par Pacific will post 0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC increased its position in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific during the second quarter worth about $43,000. Quarry LP lifted its holdings in shares of Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares in the last quarter. nVerses Capital LLC grew its position in shares of Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, Innealta Capital LLC bought a new stake in Par Pacific during the 2nd quarter worth approximately $104,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.