Analysts Set Par Pacific Holdings, Inc. (NYSE:PARR) PT at $35.67

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $35.17.

A number of research firms recently weighed in on PARR. JPMorgan Chase & Co. lowered their target price on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. TD Cowen reduced their price target on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Piper Sandler reduced their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. The Goldman Sachs Group reduced their price target on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Mizuho assumed coverage on shares of Par Pacific in a research report on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price target on the stock.

Hedge Funds Weigh In On Par Pacific

A number of large investors have recently modified their holdings of the stock. nVerses Capital LLC lifted its position in shares of Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Commonwealth Equity Services LLC acquired a new position in Par Pacific in the second quarter valued at approximately $275,000. Innealta Capital LLC acquired a new position in Par Pacific in the second quarter valued at approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Par Pacific by 8.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,462 shares of the company’s stock valued at $363,000 after buying an additional 1,139 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Par Pacific by 113.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 20,896 shares of the company’s stock valued at $528,000 after buying an additional 11,092 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Performance

NYSE:PARR opened at $26.55 on Friday. The firm’s 50-day moving average is $25.06 and its 200-day moving average is $31.58. Par Pacific has a 52-week low of $22.77 and a 52-week high of $40.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.50 and a current ratio of 1.28. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 3.32 and a beta of 2.01.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. Equities research analysts anticipate that Par Pacific will post 1.5 earnings per share for the current year.

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.