Par Pacific (NYSE:PARR) Upgraded to “Strong-Buy” 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 note issued to investors on Saturday morning.

A number of other brokerages have also recently weighed in on PARR. Piper Sandler set a $57.00 price objective on shares of Par Pacific in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. TD Cowen increased their target price on Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 27th. Mizuho raised their price target on Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of Par Pacific in a report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Par Pacific presently has an average rating of “Hold” and a consensus price target of $49.50.

Par Pacific Trading Up 1.2%

Shares of Par Pacific stock opened at $53.80 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The company has a market capitalization of $2.64 billion, a P/E ratio of 7.38 and a beta of 1.17. Par Pacific has a 1 year low of $12.04 and a 1 year high of $54.72. The company’s fifty day moving average is $41.17 and its two-hundred day moving average is $39.37.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the firm earned ($0.79) earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. Analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. bought a new position in Par Pacific during the 3rd quarter worth $44,000. Aster Capital Management DIFC Ltd bought a new stake in Par Pacific in the third quarter valued at $48,000. Smartleaf Asset Management LLC boosted its holdings in shares of Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after acquiring an additional 1,048 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Par Pacific by 16.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after acquiring an additional 259 shares during the period. Finally, USA Financial Formulas bought a new position in shares of Par Pacific during the third quarter worth about $82,000. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.