Par Pacific (NYSE:PARR) Stock Rating Upgraded by Zacks Research

Par Pacific (NYSE:PARR) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on PARR. Weiss Ratings reiterated a “hold (c-)” rating on shares of Par Pacific in a research note on Wednesday, October 8th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. Mizuho increased their price target on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Raymond James Financial reissued an “outperform” rating and set a $45.00 target price (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. Finally, UBS Group boosted their target price on shares of Par Pacific from $23.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Par Pacific Trading Down 0.8%

Shares of PARR stock opened at $39.97 on Wednesday. The stock’s fifty day moving average price is $34.79 and its two-hundred day moving average price is $27.46. The company has a market cap of $2.03 billion, a PE ratio of -142.73 and a beta of 1.74. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $41.64. 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 issued its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the business posted $0.49 EPS. The company’s revenue was down 6.2% compared to the same quarter last year. Equities analysts predict that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Par Pacific

In related news, insider Shawn David Flores sold 8,062 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the completion of the transaction, the insider directly owned 39,089 shares of the company’s stock, valued at $1,348,570.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the firm’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 transaction, the chief accounting officer directly owned 17,491 shares of the company’s stock, valued at approximately $614,109.01. This represents a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,954 shares of company stock worth $863,048 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in shares of Par Pacific by 175.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after acquiring an additional 753 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock worth $35,000 after acquiring an additional 927 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Par Pacific by 157.4% in 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. USA Financial Formulas bought a new position in shares of Par Pacific in the 3rd quarter worth about $82,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after acquiring an additional 1,048 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

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.