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

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

A number of equities analysts have recently commented on PARR shares. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Mizuho decreased their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. TD Cowen lowered their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Finally, UBS Group lowered their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $17.43 on Friday. Par Pacific has a 12 month low of $14.84 and a 12 month high of $40.69. The business has a fifty day simple moving average of $17.30 and a two-hundred day simple moving average of $21.58. The firm has a market capitalization of $975.24 million, a P/E ratio of 3.38 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Par Pacific’s revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.15 earnings per share. On average, equities analysts forecast that Par Pacific will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

A number of large investors have recently modified their holdings of PARR. Headlands Technologies LLC grew its stake 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 worth $29,000 after purchasing an additional 796 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific in the second quarter worth about $43,000. Quarry LP boosted 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 worth $60,000 after buying an additional 2,027 shares during the period. nVerses Capital LLC grew its holdings in 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 buying an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Par Pacific in the 2nd quarter worth $104,000. Institutional investors and hedge funds 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.