Par Pacific (NYSE:PARR) Upgraded to Strong-Buy at Wall Street Zen

Par Pacific (NYSE:PARR) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued on Saturday.

Other equities analysts also recently issued research reports about the stock. Cowen reissued a “buy” rating on shares of Par Pacific in a report on Thursday. Mizuho set a $34.00 target price on shares of Par Pacific and gave the stock a “neutral” rating in a report on Friday, July 11th. UBS Group lowered their target price on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating on the stock in a report on Wednesday, April 16th. Piper Sandler boosted their target price on shares of Par Pacific from $26.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Finally, TD Cowen decreased their price target on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.96.

Par Pacific Stock Performance

Shares of PARR stock opened at $27.31 on Friday. The company has a 50 day moving average price of $28.64 and a 200-day moving average price of $20.21. The company has a quick ratio of 0.54, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $1.39 billion, a PE ratio of -97.54 and a beta of 1.83. Par Pacific has a 52 week low of $11.86 and a 52 week high of $35.32.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.80. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.49 earnings per share. As a group, equities research analysts expect that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PARR. Creative Planning grew its holdings in Par Pacific by 43.8% during the 2nd quarter. Creative Planning now owns 50,438 shares of the company’s stock worth $1,338,000 after acquiring an additional 15,362 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Par Pacific by 83.9% in the 2nd quarter. SG Americas Securities LLC now owns 31,775 shares of the company’s stock valued at $843,000 after buying an additional 14,492 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Par Pacific by 7.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,337 shares of the company’s stock valued at $327,000 after buying an additional 820 shares in the last quarter. Everett Harris & Co. CA bought a new stake in shares of Par Pacific in the 2nd quarter valued at about $739,000. Finally, Allworth Financial LP boosted its holdings in shares of Par Pacific by 507.9% in the 2nd quarter. Allworth Financial LP now owns 50,699 shares of the company’s stock valued at $1,345,000 after buying an additional 42,359 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.