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 Sunday morning.

PARR has been the subject of several other reports. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Piper Sandler set a $57.00 price target on Par Pacific in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Mizuho increased their target price on Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Finally, Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Par Pacific has a consensus rating of “Hold” and an average price target of $44.00.

Par Pacific Price Performance

Shares of NYSE PARR opened at $42.99 on Friday. The business has a 50 day moving average price of $38.15 and a two-hundred day moving average price of $37.36. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The firm has a market cap of $2.16 billion, a PE ratio of 9.05 and a beta of 1.23. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70.

Insider Transactions at Par Pacific

In related news, CEO William Monteleone sold 99,284 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $43.15, for a total value of $4,284,104.60. Following the sale, the chief executive officer owned 423,022 shares of the company’s stock, valued at $18,253,399.30. This trade represents a 19.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several large investors have recently made changes to their positions in PARR. Schonfeld Strategic Advisors LLC acquired a new position in shares of Par Pacific during the fourth quarter worth approximately $1,181,000. AQR Capital Management LLC increased its position in Par Pacific by 18.8% in the 4th quarter. AQR Capital Management LLC now owns 304,702 shares of the company’s stock valued at $10,707,000 after acquiring an additional 48,213 shares during the period. Cetera Investment Advisers bought a new stake in Par Pacific during the 4th quarter valued at $829,000. ION Fund Management Ltd acquired a new position in Par Pacific during the 4th quarter worth $1,127,000. Finally, Trexquant Investment LP grew its stake in shares of Par Pacific by 14.8% in the fourth quarter. Trexquant Investment LP now owns 262,339 shares of the company’s stock worth $9,219,000 after purchasing an additional 33,727 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

About Par Pacific

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.