Par Pacific (NYSE:PARR) Rating Increased to Strong-Buy 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 a number of other research reports. UBS Group lifted their target price on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, November 6th. The Goldman Sachs Group boosted their price objective on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Mizuho increased their target price on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Par Pacific Price Performance

Par Pacific stock opened at $42.88 on Friday. The firm has a market capitalization of $2.16 billion, a P/E ratio of 9.03 and a beta of 1.23. Par Pacific has a one year low of $11.86 and a one year high of $48.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. The business has a fifty day moving average price of $38.15 and a 200-day moving average price of $37.19.

Insider Buying and Selling

In other news, CEO William Monteleone sold 99,284 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 423,022 shares of the company’s stock, valued at $18,253,399.30. This represents a 19.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Par Pacific during the 3rd quarter valued at about $1,149,000. First Citizens Bank & Trust Co. grew its position in shares of Par Pacific by 213.5% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 48,121 shares of the company’s stock worth $1,277,000 after buying an additional 32,772 shares during the last quarter. Creative Planning grew its position in shares of Par Pacific by 43.8% in the 2nd quarter. Creative Planning now owns 50,438 shares of the company’s stock worth $1,338,000 after buying an additional 15,362 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Par Pacific by 89.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after buying an additional 681,190 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Par Pacific during the second quarter valued at approximately $1,419,000. 92.15% of the stock is currently owned by institutional investors.

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.