Zacks Investment Research upgraded shares of Par Pacific (NYSEAMERICAN:PARR) from a strong sell rating to a hold rating in a research report released 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. “
PARR has been the topic of a number of other research reports. BidaskClub cut shares of Par Pacific from a strong-buy rating to a buy rating in a report on Tuesday, November 7th. Seaport Global Securities upgraded shares of Par Pacific from a neutral rating to a buy rating in a report on Monday, September 11th. Cowen restated a buy rating and issued a $20.00 target price on shares of Par Pacific in a report on Tuesday, October 17th. Mizuho reiterated a buy rating and set a $23.00 price target on shares of Par Pacific in a research note on Friday, October 27th. Finally, ValuEngine upgraded shares of Par Pacific from a hold rating to a buy rating in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $21.33.
Shares of Par Pacific (NYSEAMERICAN:PARR) traded up $0.19 during trading hours on Wednesday, hitting $18.93. 722,632 shares of the stock traded hands, compared to its average volume of 290,177. Par Pacific has a 52-week low of $13.17 and a 52-week high of $21.94. The company has a market capitalization of $857.89, a P/E ratio of 12.45 and a beta of 0.38. The company has a current ratio of 1.09, a quick ratio of 0.35 and a debt-to-equity ratio of 0.71.
Par Pacific (NYSEAMERICAN:PARR) last released its quarterly earnings results on Monday, November 6th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. The company had revenue of $610.51 million during the quarter, compared to the consensus estimate of $655.80 million. equities research analysts expect 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 Par Pacific stock in a transaction on Friday, October 20th. The shares were sold at an average price of $20.53, for a total value of $788,454.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.80% of the company’s stock.
Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC bought a new position in shares of Par Pacific during the 3rd quarter worth approximately $910,000. Cornerstone Capital Management Holdings LLC. bought a new position in shares of Par Pacific during the 3rd quarter worth approximately $706,000. Highbridge Capital Management LLC bought a new position in shares of Par Pacific during the 3rd quarter worth approximately $461,000. GSA Capital Partners LLP raised its stake in shares of 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 worth $1,555,000 after acquiring an additional 17,736 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Par Pacific during the 3rd quarter worth approximately $272,000. Institutional investors and hedge funds own 83.57% of the company’s stock.
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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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