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

Wall Street Zen upgraded shares of Par Pacific (NYSE:PARR) from a buy rating to a strong-buy rating in a research report released on Saturday morning.

A number of other research analysts have also weighed in on the company. Piper Sandler increased their price target on Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Mizuho set a $34.00 target price on Par Pacific and gave the stock a “neutral” rating in a research report on Friday, July 11th. TD Cowen decreased their price target on Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Cowen reaffirmed a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. Finally, The Goldman Sachs Group cut shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $30.68.

Par Pacific Stock Performance

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

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. On average, analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Ivan Daniel Guerra sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total transaction of $193,105.00. Following the sale, the chief accounting officer directly owned 17,491 shares in the company, valued at approximately $614,109.01. This trade represents a 23.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total value of $180,627.40. Following the transaction, the insider directly owned 24,679 shares in the company, valued at $852,659.45. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,954 shares of company stock valued at $796,308. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC increased its holdings in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after purchasing an additional 753 shares during the last quarter. Signaturefd LLC raised its holdings in Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock valued at $34,000 after acquiring an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Par Pacific during the 1st quarter valued at $35,000. Parallel Advisors LLC boosted its stake in Par Pacific by 232.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock valued at $35,000 after acquiring an additional 927 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Par Pacific by 157.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after acquiring an additional 976 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

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.