Par Pacific Holdings, Inc. (NYSE:PARR – Get Rating) has been given a consensus rating of “Hold” by the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $24.00.
Several equities research analysts recently issued reports on PARR shares. Cowen raised their target price on shares of Par Pacific from $21.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, October 24th. Piper Sandler dropped their target price on shares of Par Pacific from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, December 19th. Cowen raised their target price on shares of Par Pacific from $21.00 to $28.00 and gave the stock an “outperform” rating in a report on Monday, October 24th. StockNews.com cut shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Par Pacific from $19.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, October 18th.
Insider Transactions at Par Pacific
In other news, Director L Melvin Cooper sold 2,000 shares of Par Pacific stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $22.59, for a total transaction of $45,180.00. Following the transaction, the director now owns 40,858 shares in the company, valued at approximately $922,982.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Jeffrey Ryan Hollis sold 2,158 shares of Par Pacific stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $23.37, for a total transaction of $50,432.46. Following the transaction, the general counsel now owns 10,736 shares in the company, valued at approximately $250,900.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director L Melvin Cooper sold 2,000 shares of Par Pacific stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $22.59, for a total transaction of $45,180.00. Following the transaction, the director now owns 40,858 shares in the company, valued at approximately $922,982.22. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Institutional Trading of Par Pacific
A number of large investors have recently made changes to their positions in PARR. American International Group Inc. grew its holdings in Par Pacific by 2.1% during the 2nd quarter. American International Group Inc. now owns 26,259 shares of the company’s stock valued at $409,000 after purchasing an additional 550 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Par Pacific by 2.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 28,525 shares of the company’s stock valued at $445,000 after buying an additional 679 shares during the period. Arizona State Retirement System boosted its position in Par Pacific by 6.3% in the 2nd quarter. Arizona State Retirement System now owns 12,968 shares of the company’s stock valued at $202,000 after buying an additional 765 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Par Pacific by 77.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,950 shares of the company’s stock worth $30,000 after purchasing an additional 850 shares during the period. Finally, PNC Financial Services Group Inc. lifted its position in shares of Par Pacific by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock worth $98,000 after purchasing an additional 854 shares during the period. 92.76% of the stock is currently owned by institutional investors.
Par Pacific Price Performance
Shares of PARR opened at $22.59 on Friday. The company has a market capitalization of $1.36 billion, a P/E ratio of 4.71 and a beta of 2.01. The company has a quick ratio of 0.48, a current ratio of 1.01 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $22.51 and a 200 day moving average of $19.32. Par Pacific has a twelve month low of $11.66 and a twelve month high of $25.38.
Par Pacific (NYSE:PARR – Get Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.84. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $1.74 billion. Par Pacific had a net margin of 4.22% and a return on equity of 106.74%. As a group, equities research analysts anticipate that Par Pacific will post 7.25 earnings per share for the current fiscal year.
About Par Pacific
Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.
Further Reading
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