Brokerages Set Par Pacific Holdings, Inc. (NYSE:PARR) PT at $28.00

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have received a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $28.00.

Several equities analysts recently commented on PARR shares. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. UBS Group dropped their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group decreased their price target on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Tudor Pickering raised shares of Par Pacific to a “hold” rating in a report on Monday, September 9th.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $18.26 on Thursday. Par Pacific has a one year low of $17.06 and a one year high of $40.69. The firm has a market capitalization of $1.03 billion, a price-to-earnings ratio of 2.34 and a beta of 1.98. The business has a 50-day simple moving average of $20.53 and a 200 day simple moving average of $25.62. 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 issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, research analysts anticipate that Par Pacific will post 1.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently made changes to their positions in PARR. Paragon Associates & Paragon Associates II Joint Venture bought a new stake in Par Pacific in the 4th quarter worth approximately $1,637,000. Oracle Alpha Inc. bought a new stake in Par Pacific in the 4th quarter worth approximately $496,000. Neo Ivy Capital Management purchased a new position in shares of Par Pacific during the 4th quarter worth $303,000. Goldman Sachs Group Inc. boosted its stake in shares of Par Pacific by 28.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock worth $44,635,000 after acquiring an additional 268,219 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Par Pacific by 17.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock worth $252,000 after acquiring an additional 1,024 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

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.