Par Pacific (NYSE:PARR) Now Covered by Raymond James

Equities research analysts at Raymond James assumed coverage on shares of Par Pacific (NYSE:PARR) in a note issued to investors on Friday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ target price would indicate a potential upside of 41.72% from the company’s previous close.

Other analysts have also issued research reports about the stock. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. cut their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, The Goldman Sachs Group dropped their price objective on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Par Pacific has an average rating of “Hold” and a consensus price target of $25.71.

Par Pacific Price Performance

PARR stock opened at $17.64 on Friday. The company has a market cap of $986.96 million, a PE ratio of 3.42 and a beta of 2.00. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average price of $16.88 and a two-hundred day moving average price of $19.17. Par Pacific has a 12-month low of $14.84 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $3.15 EPS. The business’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, research analysts predict that Par Pacific will post 0.14 EPS for the current year.

Insider Activity at Par Pacific

In related news, Director William Pate sold 67,700 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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 bought and sold shares of PARR. Harbor Capital Advisors Inc. lifted its holdings in shares of Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after purchasing an additional 315,967 shares during the last quarter. Walleye Capital LLC lifted its stake in Par Pacific by 1,014.3% in the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after buying an additional 249,290 shares during the last quarter. State Street Corp lifted its stake in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the last quarter. Algert Global LLC boosted its holdings in shares of Par Pacific by 63.8% during the third quarter. Algert Global LLC now owns 303,970 shares of the company’s stock valued at $5,350,000 after acquiring an additional 118,393 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Par Pacific by 7.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock worth $2,248,000 after acquiring an additional 8,844 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.