Par Pacific (NYSE:PARR) Upgraded at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Par Pacific (NYSE:PARR – Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday.

A number of other research firms have also issued reports on PARR. The Goldman Sachs Group lowered Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Wednesday, May 28th. Mizuho set a $34.00 price target on shares of Par Pacific and gave the company a “neutral” rating in a research note on Friday, July 11th. Cowen reiterated a “buy” rating on shares of Par Pacific in a research report on Thursday, August 7th. Raymond James Financial increased their price objective on Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Finally, Piper Sandler lifted their target price on Par Pacific from $39.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.68.

Get Our Latest Report on PARR

Par Pacific Price Performance

Shares of PARR opened at $33.38 on Friday. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -119.19 and a beta of 1.82. The stock has a 50 day moving average of $31.96 and a 200-day moving average of $23.14. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. Par Pacific has a 52 week low of $11.86 and a 52 week high of $36.39.

Par Pacific (NYSE:PARR – Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. As a group, analysts forecast that Par Pacific will post 0.15 EPS for the current year.

Insider Transactions at Par Pacific

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the sale, the chief accounting officer owned 17,491 shares of the company’s stock, valued at approximately $614,109.01. The trade was a 23.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Terrill Pitkin sold 5,164 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the transaction, the senior vice president directly owned 41,223 shares of the company’s stock, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,954 shares of company stock valued at $796,308. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of PARR. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Par Pacific in the 1st quarter worth approximately $194,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Par Pacific by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company’s stock worth $265,000 after acquiring an additional 6,522 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Par Pacific by 352.7% in the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after acquiring an additional 5,887 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Par Pacific in the 1st quarter worth $219,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Par Pacific by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after purchasing an additional 296,536 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

About Par Pacific

(Get Free Report)

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.

Read More