Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) Target Price at $70.00

Par Pacific Holdings, Inc. (NYSE:PARR) has received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $70.00.

Several equities analysts recently issued reports on the stock. Guggenheim raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Evercore raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Raymond James Financial raised their price objective on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their target price for the company from $53.00 to $77.00 in a research note on Friday, April 10th. Finally, Piper Sandler boosted their target price on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $58.96 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The business’s fifty day moving average price is $58.33 and its two-hundred day moving average price is $50.39. Par Pacific has a fifty-two week low of $26.83 and a fifty-two week high of $70.39. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 6.58 and a beta of 0.82.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business posted ($0.94) earnings per share. The firm’s revenue was up 4.5% compared to the same quarter last year. As a group, analysts predict that Par Pacific will post 15.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. NewEdge Advisors LLC acquired a new position in shares of Par Pacific during the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC raised its position in Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after purchasing an additional 173 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in Par Pacific in the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in Par Pacific by 385.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after buying an additional 1,558 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.