Par Pacific (NYSE:PARR) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of Par Pacific (NYSE:PARR) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $25.00 target price on the stock.

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

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $17.49 on Friday. The company’s 50 day moving average price is $16.87 and its two-hundred day moving average price is $19.12. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm has a market capitalization of $978.79 million, a P/E ratio of 3.39 and a beta of 2.00.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm earned $3.15 earnings per share. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, equities analysts forecast that Par Pacific will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after acquiring an additional 1,167 shares during the period. Quarry LP boosted its stake in Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares during the period. Nisa Investment Advisors LLC grew its holdings in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares in the last quarter. FMR LLC lifted its holdings in shares of Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company’s stock worth $152,000 after buying an additional 4,826 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in shares of Par Pacific in the third quarter worth about $185,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.