RBC Capital Sticks to Its Hold Rating for Par Pacific Holdings (PARR)

By Austin Angelo

In a report issued on January 17, Brad Heffern from RBC Capital maintained a Hold rating on Par Pacific Holdings (PARRResearch Report), with a price target of $23.00. The company’s shares closed last Monday at $21.65.

According to TipRanks.com, Heffern is a 3-star analyst with an average return of 2.5% and a 43.5% success rate. Heffern covers the Basic Materials sector, focusing on stocks such as Continental Resources, Marathon Petroleum, and Denbury Resources.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Par Pacific Holdings with a $27.00 average price target.

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Based on Par Pacific Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $83.89 million. In comparison, last year the company had a net profit of $13.69 million.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PARR in relation to earlier this year. Most recently, in November 2019, Robert Silberman, a Director at PARR sold 150,000 shares for a total of $3,757,794.

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Par Pacific Holdings, Inc. owns and operates energy and infrastructure businesses. It operates through the following three segments: Refining, Retail and Logistics. The Refining segment involves the production of sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.