Par Pacific (NYSE:PARR – Get Rating) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.
→ Laser breakthrough could send stock soaring 2,476% (From Behind the Markets)
A number of other research firms also recently weighed in on PARR. Piper Sandler cut their target price on Par Pacific from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, December 19th. Cowen upped their target price on Par Pacific from $21.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, October 24th. JPMorgan Chase & Co. upped their target price on Par Pacific from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 18th. Finally, Cowen increased their price objective on Par Pacific from $21.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday, October 24th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.
Par Pacific Stock Performance
PARR stock traded up $0.66 on Friday, reaching $23.57. The company’s stock had a trading volume of 567,316 shares, compared to its average volume of 563,391. Par Pacific has a 52 week low of $11.66 and a 52 week high of $25.38. The company has a market capitalization of $1.42 billion, a P/E ratio of 4.91 and a beta of 2.01. The firm has a fifty day moving average of $22.47 and a two-hundred day moving average of $19.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.01 and a quick ratio of 0.48.
Par Pacific (NYSE:PARR – Get Rating) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.84. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $1.74 billion. Par Pacific had a return on equity of 106.74% and a net margin of 4.22%. As a group, analysts predict that Par Pacific will post 7.25 EPS for the current fiscal year.
Insider Activity
In other news, Director L Melvin Cooper sold 2,000 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $22.59, for a total value of $45,180.00. Following the completion of the sale, the director now owns 40,858 shares in the company, valued at $922,982.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Jeffrey Ryan Hollis sold 2,158 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $23.37, for a total value of $50,432.46. Following the completion of the sale, the general counsel now owns 10,736 shares in the company, valued at $250,900.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director L Melvin Cooper sold 2,000 shares of the company’s stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $22.59, for a total transaction of $45,180.00. Following the completion of the transaction, the director now directly owns 40,858 shares in the company, valued at $922,982.22. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Hedge Funds Weigh In On Par Pacific
Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 77.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,950 shares of the company’s stock worth $30,000 after acquiring an additional 850 shares during the last quarter. Financial Management Professionals Inc. acquired a new position in shares of Par Pacific in the fourth quarter worth $31,000. KBC Group NV acquired a new position in shares of Par Pacific in the second quarter worth $64,000. Captrust Financial Advisors increased its stake in shares of Par Pacific by 53.3% in the first quarter. Captrust Financial Advisors now owns 5,181 shares of the company’s stock worth $67,000 after acquiring an additional 1,801 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Par Pacific by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock worth $98,000 after acquiring an additional 854 shares during the last quarter. 92.76% of the stock is owned by institutional investors and hedge funds.
Par Pacific Company Profile
Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Par Pacific, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Par Pacific wasn’t on the list.
While Par Pacific currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
