Par Pacific Holdings, Inc. (NYSE:PARR) Receives Average Rating of “Hold” from Analysts

Par Pacific Holdings, Inc. (NYSE:PARR) has received a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $25.29.

A number of analysts recently commented on the stock. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $22.00 in a research note on Monday, December 16th. Raymond James began coverage on shares of Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price on the stock. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. The Goldman Sachs Group decreased their price objective on Par Pacific from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th.

Par Pacific Trading Up 0.5 %

Shares of Par Pacific stock opened at $15.92 on Wednesday. The stock has a market capitalization of $890.44 million, a P/E ratio of 3.08 and a beta of 1.99. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock’s 50-day simple moving average is $16.77 and its 200 day simple moving average is $18.13.

Insider Activity

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in Par Pacific in the third quarter worth $61,870,000. State Street Corp boosted its holdings in shares of Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after purchasing an additional 328,325 shares in the last quarter. Millennium Management LLC increased its position in shares of Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after purchasing an additional 586,003 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Par Pacific by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock valued at $22,591,000 after purchasing an additional 7,804 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Par Pacific by 9.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company’s stock valued at $16,878,000 after buying an additional 91,814 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.