Par Pacific (PARR) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Par Pacific (NYSEAMERICAN:PARR) from a hold rating to a buy rating in a research note published on Wednesday, April 11th. Zacks Investment Research currently has $20.00 price objective on the oil and gas company’s stock.

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. “

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Shares of PARR opened at $18.24 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.35. Par Pacific has a 1 year low of $15.90 and a 1 year high of $21.94.

Par Pacific (NYSEAMERICAN:PARR) last announced its quarterly earnings data on Monday, March 5th. The oil and gas company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.35. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. The business had revenue of $663.06 million during the quarter, compared to analyst estimates of $624.40 million. sell-side analysts expect that Par Pacific will post 1.33 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Cornerstone Capital Management Holdings LLC. bought a new stake in Par Pacific in the third quarter worth $706,000. Jane Street Group LLC bought a new stake in Par Pacific in the third quarter worth $272,000. Highbridge Capital Management LLC bought a new stake in Par Pacific in the third quarter worth $461,000. Cubist Systematic Strategies LLC bought a new stake in Par Pacific in the third quarter worth $254,000. Finally, Sterling Capital Management LLC bought a new stake in Par Pacific in the third quarter worth $910,000. 83.57% of the stock is owned by hedge funds and other institutional investors.

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Par Pacific Company Profile

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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