Par Pacific (NYSE:PARR) Shares Up 4.5% on Analyst Upgrade

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price rose 4.5% during mid-day trading on Wednesday after Mizuho raised their price target on the stock from $49.00 to $58.00. Mizuho currently has a neutral rating on the stock. Par Pacific traded as high as $54.97 and last traded at $55.3050. Approximately 64,138 shares traded hands during trading, a decline of 95% from the average daily volume of 1,220,442 shares. The stock had previously closed at $52.94.

A number of other brokerages have also recently weighed in on PARR. Raymond James Financial restated an “outperform” rating and issued a $50.00 price objective on shares of Par Pacific in a research note on Wednesday, February 25th. The Goldman Sachs Group raised their target price on shares of Par Pacific from $44.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, March 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. TD Cowen boosted their target price on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Piper Sandler set a $57.00 price target on shares of Par Pacific in a report on Monday, January 12th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.00.

Insider Activity at Par Pacific

In related news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Par Pacific by 16.2% in 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. Wealth Enhancement Advisory Services LLC grew its stake in shares of Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $596,000 after purchasing an additional 266 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Par Pacific by 12.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock worth $94,000 after buying an additional 293 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Par Pacific by 2.8% during the 4th quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock worth $390,000 after buying an additional 299 shares during the period. Finally, GAMMA Investing LLC boosted its stake in Par Pacific by 2.5% in the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock valued at $555,000 after buying an additional 382 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Trading Up 4.8%

The company has a 50 day moving average of $41.83 and a 200 day moving average of $39.67. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 7.59 and a beta of 1.16. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data 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 net margin of 4.95% and a return on equity of 30.19%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business posted ($0.79) earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

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.