Par Pacific Holdings, Inc. (NASDAQ:PARR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The brokerage currently has a $16.00 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 14.29% from the company’s previous close.

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. “

A number of other research analysts have also recently weighed in on the stock. Seaport Global Securities began coverage on shares of Par Pacific Holdings in a research note on Thursday, September 8th. They set a “buy” rating and a $22.00 price objective for the company. Miller Tabak raised shares of Par Pacific Holdings from a “hold” rating to a “strong-buy” rating and raised their price objective for the stock from $24.00 to $25.30 in a research note on Wednesday, August 3rd. Finally, Cowen and Company raised shares of Par Pacific Holdings from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $18.00 to $20.00 in a research note on Tuesday, June 14th.

Shares of Par Pacific Holdings (NASDAQ:PARR) opened at 14.00 on Friday. The stock has a 50 day moving average price of $13.55 and a 200 day moving average price of $16.12. The firm’s market capitalization is $576.49 million. Par Pacific Holdings has a 52 week low of $12.18 and a 52 week high of $28.31.

In other news, Director Melvyn N. Klein bought 4,000 shares of the stock in a transaction on Thursday, September 15th. The stock was purchased at an average cost of $13.05 per share, with a total value of $52,200.00. Following the purchase, the director now owns 23,339 shares of the company’s stock, valued at $304,573.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Whitebox Advisors Llc sold 446,229 shares of Par Pacific Holdings stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $12.97, for a total transaction of $5,787,590.13. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Par Pacific Holdings during the second quarter valued at approximately $1,185,000. Brown Advisory Inc. boosted its stake in Par Pacific Holdings by 74.5% in the second quarter. Brown Advisory Inc. now owns 1,931,828 shares of the company’s stock valued at $29,634,000 after buying an additional 824,685 shares during the last quarter. SECOR Capital Advisors LP boosted its stake in Par Pacific Holdings by 111.7% in the second quarter. SECOR Capital Advisors LP now owns 38,955 shares of the company’s stock valued at $598,000 after buying an additional 20,558 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Par Pacific Holdings by 22.1% in the second quarter. Dimensional Fund Advisors LP now owns 268,001 shares of the company’s stock valued at $4,111,000 after buying an additional 48,490 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in Par Pacific Holdings by 15.3% in the second quarter. Nationwide Fund Advisors now owns 34,057 shares of the company’s stock valued at $522,000 after buying an additional 4,508 shares during the last quarter.

About Par Pacific Holdings

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