Par Pacific (NYSE:PARR) Now Covered by Raymond James

Research analysts at Raymond James started coverage on shares of Par Pacific (NYSE:PARR) in a report released on Friday, Marketbeat reports. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ target price would suggest a potential upside of 42.91% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. The Goldman Sachs Group decreased their price target on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Finally, Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific currently has an average rating of “Hold” and a consensus price target of $25.71.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $17.49 on Friday. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock has a fifty day moving average price of $16.87 and a two-hundred day moving average price of $19.09. The firm has a market cap of $978.82 million, a P/E ratio of 3.39 and a beta of 2.00.

Par Pacific (NYSE:PARR) last announced its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the business posted $3.15 earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis. Research analysts forecast that Par Pacific will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Several institutional investors have recently made changes to their positions in PARR. GAMMA Investing LLC increased its stake in Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares during the last quarter. Quarry LP increased its stake in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after acquiring an additional 2,027 shares during the last quarter. FMR LLC raised its holdings in shares of Par Pacific by 126.7% during the third quarter. FMR LLC now owns 8,634 shares of the company’s stock worth $152,000 after acquiring an additional 4,826 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in Par Pacific during the third quarter valued at $185,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.