Shares of Par Pacific Holdings, Inc. (NYSE:PARR – Get Free Report) have been assigned an average recommendation of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.83.
A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group lowered their target price on Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th.
Get Our Latest Stock Report on PARR
Par Pacific Stock Up 1.7 %
Par Pacific (NYSE:PARR – Get Free Report) last issued 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 firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.15 earnings per share. Analysts forecast that Par Pacific will post 1.12 earnings per share for the current year.
Insider Activity at Par Pacific
In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Par Pacific
Several institutional investors and hedge funds have recently made changes to their positions in PARR. Harbor Capital Advisors Inc. lifted its holdings in Par Pacific by 160.2% in the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after acquiring an additional 315,967 shares during the last quarter. Walleye Capital LLC lifted its holdings in shares of Par Pacific by 1,014.3% in the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after purchasing an additional 249,290 shares during the last quarter. State Street Corp boosted its position in Par Pacific by 10.5% during the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after purchasing an additional 328,325 shares during the period. Algert Global LLC grew its stake in Par Pacific by 63.8% during the 3rd quarter. Algert Global LLC now owns 303,970 shares of the company’s stock worth $5,350,000 after buying an additional 118,393 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Par Pacific by 7.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock worth $2,248,000 after buying an additional 8,844 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.
About Par Pacific
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.
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