Par Pacific (PARR) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Par Pacific (NYSEAMERICAN:PARR) from a strong sell rating to a hold rating in a report issued on Wednesday, December 20th.

According to Zacks, “Par Pacific Holdings, Inc. manages and maintains interests in energy and infrastructure businesses. The company’s operating segment consists of refining, retail and logistics. It also markets and distributes crude oil from the Western United States and Canada to refining hubs in the Midwest, Gulf Coast, East Coast and to Hawaii. Par Pacific Holdings, Inc., formerly known as Par Petroleum Corporation, is headquartered in Houston, Texas. “

A number of other equities analysts also recently commented on the stock. Seaport Global Securities raised shares of Par Pacific from a neutral rating to a buy rating in a report on Monday, September 11th. ValuEngine raised shares of Par Pacific from a hold rating to a buy rating in a report on Monday, October 2nd. Cowen reissued a buy rating and set a $20.00 price target on shares of Par Pacific in a report on Tuesday, October 17th. Mizuho reissued a buy rating and set a $23.00 price target on shares of Par Pacific in a report on Friday, October 27th. Finally, BidaskClub downgraded shares of Par Pacific from a strong-buy rating to a buy rating in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $21.33.

Par Pacific (PARR) traded up $0.19 during midday trading on Wednesday, reaching $18.93. 722,632 shares of the company traded hands, compared to its average volume of 291,356. Par Pacific has a 52-week low of $13.17 and a 52-week high of $21.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.35. The stock has a market capitalization of $874.37, a price-to-earnings ratio of 12.45 and a beta of 0.38.

Par Pacific (NYSEAMERICAN:PARR) last posted its quarterly earnings data on Monday, November 6th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The company had revenue of $610.51 million for the quarter, compared to analyst estimates of $655.80 million. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. sell-side analysts anticipate that Par Pacific will post 1.33 earnings per share for the current fiscal year.

In other Par Pacific news, major shareholder Whitebox Advisors Llc sold 38,405 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $20.53, for a total transaction of $788,454.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.80% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC grew its stake in Par Pacific by 67.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 18,600 shares of the oil and gas company’s stock valued at $359,000 after acquiring an additional 7,500 shares in the last quarter. GSA Capital Partners LLP grew its stake in Par Pacific by 31.1% during the 3rd quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock valued at $1,555,000 after acquiring an additional 17,736 shares in the last quarter. Sterling Capital Management LLC purchased a new position in Par Pacific during the 3rd quarter valued at about $910,000. Cubist Systematic Strategies LLC bought a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $254,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $461,000. 83.57% of the stock is currently owned by institutional investors.

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About Par Pacific

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.

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