In a recent development, Par Pacific Holdings, Inc. (NYSE:PARR) has been upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday, 12th May 2023. This upgrade comes following the company’s impressive earnings results reported on February 22nd earlier this year.
The report revealed that the company had earned $2.20 per share for the quarter, surpassing analysts’ consensus estimates of $1.92 by $0.28. Furthermore, it had revenue of $1.81 billion for the quarter compared to analyst estimates of $1.84 billion. Par Pacific demonstrated an outstanding return on equity of 108.48% and net margin of 9.65%. Based on these figures, equities research analysts predict that Par Pacific will post 6.87 earnings per share for the current year.
Par Pacific Holdings is engaged in energy and infrastructure businesses and operates through four segments: Refining, Retail, Logistics, and Other. The refining segment produces several refined products such as ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, low sulfur fuel oil and others associated with refined products.
This latest upgrade from StockNews.com signifies significant growth potential for Par Pacific Holdings Inc., indicating a promising future for its shareholders and investors alike.
Par Pacific Holdings records an impressive turnaround following adverse business climate conditions due to factors such as economic downturns and regulatory changes faced by most businesses in their sectors worldwide during the past two years.
The upgraded outlook comes as no surprise considering the company’s keen focus on operational efficiency and optimized asset utilization while looking out for opportunities to acquire additional assets or streamline existing ones where necessary.
In conclusion; Investors should keep an eye on Par Pacific Holdings’ rising stock portfolio with confidence emanating from its strong financial performance record backed by its innovative business strategies aimed at creating sustainable growth potentials despite fluctuating market conditions.
Analysts Mixed on Rating and Price Target, Insiders Sell Shares while Hedge Funds Increase Holdings in Par Pacific Holdings Inc. (PARR)
Investors and financial experts continue to analyze the recent research reports surrounding Par Pacific Holdings Inc. (PARR), a company specializing in energy and infrastructure operations. Piper Sandler recently increased its rating for PARR from “neutral” to “overweight,” with an adjusted price target of $33. Additionally, JPMorgan Chase & Co raised their target price for the company from $29 to $34 with a “neutral” rating, while UBS Group’s report claimed a “neutral” rating and a $34 target price. On the other hand, The Goldman Sachs Group gave PARR a “neutral” rating but increased its price target from $24 to $27. Despite this mixed feedback, Bloomberg.com data reported that most analysts have given the stock a consensus rating of “Moderate Buy,” with an average price target of $29.13.
As of May 12, 2023, NYSE PARR shares opened at $21.29 with a market cap of around $1.30 billion and a beta of 2.05. Although the company has had volatile performance within the last year—reaching highs of $30.49 and lows of $13.72—the business’s 50-day moving average currently sits at $25.93 and its 200-day moving average is at $24.77.
In addition to the fluctuating nature of its value over time, PARR also experienced changes in ownership and management earlier this year as some insiders sold shares in late February 2023—one example being CAO Ivan Daniel Guerra selling 7,500 shares at an average price of $28.28 ($212,100 total). William Monteleone also sold shares during this time frame—13,589 shares at an average price of $28.41 ($386,063 total). In total, insiders have sold approximately 23k shares within the last three months worth roughly $657k (4.40% of the stock is held by insiders).
Despite this activity, many hedge funds and institutional investors appear to be increasing their stake in PARR, as Financial Management Professionals Inc., Gladius Capital Management LP, and National Bank of Canada FI have recently purchased shares. Additionally, KBC Group NV grew its holdings by 13.7% while Captrust Financial Advisors’ holdings increased by 53.3% in the first quarter alone.
While some experts remain cautious regarding PARR’s future performance, optimism remains high with a “Moderate Buy” consensus rating and bullish price targets—factors that will continue to make PARR an interesting stock to watch within the energy sector.
