Brokerages Set Par Pacific Holdings, Inc. (PARR) Price Target at $21.50

Shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) have been assigned a consensus rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $21.50.

Several research firms recently commented on PARR. Zacks Investment Research lowered Par Pacific from a “buy” rating to a “strong sell” rating in a report on Tuesday, November 14th. BidaskClub lowered Par Pacific from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 7th. Mizuho reissued a “buy” rating and issued a $23.00 price objective on shares of Par Pacific in a report on Friday, October 27th. Cowen reissued a “buy” rating and issued a $20.00 price objective on shares of Par Pacific in a report on Tuesday, October 17th. Finally, ValuEngine raised Par Pacific from a “hold” rating to a “buy” rating in a report on Monday, October 2nd.

Shares of Par Pacific (NYSEAMERICAN PARR) traded up $0.27 during trading hours on Friday, hitting $20.65. The stock had a trading volume of 596,404 shares, compared to its average volume of 268,042. Par Pacific has a 1 year low of $12.96 and a 1 year high of $21.94. The stock has a market capitalization of $928.39, a PE ratio of 13.30 and a beta of 0.38. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.35 and a current ratio of 1.09.

Par Pacific (NYSEAMERICAN:PARR) last announced its quarterly earnings data on Monday, November 6th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.07. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%. The firm had revenue of $610.51 million during the quarter, compared to analysts’ expectations of $655.80 million. research analysts expect that Par Pacific will post 1.33 EPS for the current fiscal year.

In other news, major shareholder Whitebox Advisors Llc sold 19,724 shares of Par Pacific stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $20.49, for a total value of $404,144.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders sold 2,606,032 shares of company stock worth $52,714,237. 2.80% of the stock is owned by corporate insiders.

Several large investors have recently modified their holdings of PARR. Sterling Capital Management LLC acquired a new stake in shares of Par Pacific in the third quarter worth approximately $910,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Par Pacific in the third quarter worth approximately $706,000. Highbridge Capital Management LLC acquired a new stake in shares of Par Pacific in the third quarter worth approximately $461,000. GSA Capital Partners LLP boosted its stake in shares of Par Pacific by 31.1% in the third quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock worth $1,555,000 after acquiring an additional 17,736 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Par Pacific in the third quarter worth approximately $272,000. 83.57% of the stock is currently owned by hedge funds and other institutional investors.

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Par Pacific Company Profile

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.

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