Zacks Investment Research upgraded shares of Par Pacific (NYSEAMERICAN:PARR) from a strong sell rating to a hold rating in a report issued on Wednesday morning.
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. “
Several other equities research analysts have also recently commented on PARR. ValuEngine raised Par Pacific from a hold rating to a buy rating in a research note on Monday, October 2nd. Seaport Global Securities raised Par Pacific from a neutral rating to a buy rating in a research note on Monday, September 11th. Cowen reaffirmed a buy rating and set a $20.00 price objective on shares of Par Pacific in a research note on Tuesday, October 17th. BidaskClub cut Par Pacific from a strong-buy rating to a buy rating in a research note on Tuesday, November 7th. Finally, Mizuho reaffirmed a buy rating and set a $23.00 price objective on shares of Par Pacific in a research note on Friday, October 27th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $21.33.
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 for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%. The firm had revenue of $610.51 million during the quarter, compared to analysts’ expectations of $655.80 million. equities analysts anticipate that Par Pacific will post 1.33 earnings per share for the current fiscal year.
In related news, major shareholder Whitebox Advisors Llc sold 19,724 shares of Par Pacific stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $20.49, for a total transaction of $404,144.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have sold 1,854,079 shares of company stock valued at $38,572,203. 2.80% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in Par Pacific during the third quarter worth about $272,000. Highbridge Capital Management LLC bought a new stake in shares of Par Pacific in the third quarter valued at about $461,000. Sterling Capital Management LLC bought a new stake in shares of Par Pacific in the third quarter valued at about $910,000. GSA Capital Partners LLP lifted its holdings in shares of Par Pacific by 31.1% in the third quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock valued at $1,555,000 after purchasing an additional 17,736 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Par Pacific in the third quarter valued at about $254,000. Hedge funds and other institutional investors 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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