Par Pacific (NYSE:PARR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Par Pacific (NYSE:PARR) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Several other research analysts have also recently issued reports on the company. Piper Sandler set a $57.00 target price on Par Pacific in a research report on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. TD Cowen increased their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Mizuho raised their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Raymond James Financial restated an “outperform” rating and set a $50.00 target price on shares of Par Pacific in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.50.

Par Pacific Price Performance

NYSE PARR opened at $53.19 on Friday. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 7.30 and a beta of 1.16. Par Pacific has a 1-year low of $12.04 and a 1-year high of $55.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49. The business’s fifty day moving average price is $41.49 and its 200-day moving average price is $39.54.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.79) EPS. On average, equities analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Par Pacific by 30.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after purchasing an additional 1,190,088 shares during the period. Dimensional Fund Advisors LP boosted its stake in Par Pacific by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock worth $62,363,000 after purchasing an additional 7,280 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Par Pacific by 0.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company’s stock worth $62,044,000 after purchasing an additional 9,470 shares during the period. American Century Companies Inc. grew its holdings in Par Pacific by 42.8% during the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock valued at $53,923,000 after buying an additional 456,473 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new stake in Par Pacific during the 2nd quarter valued at approximately $34,609,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.