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

Par Pacific (NYSE:PARR) was upgraded by research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

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

Par Pacific Trading Up 3.6%

Par Pacific stock opened at $42.88 on Friday. The stock has a 50-day simple moving average of $38.15 and a 200 day simple moving average of $37.27. The stock has a market capitalization of $2.16 billion, a P/E ratio of 9.03 and a beta of 1.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51. Par Pacific has a 52 week low of $11.86 and a 52 week high of $48.40.

Insider Buying and Selling at Par Pacific

In related news, CEO William Monteleone sold 99,284 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $43.15, for a total transaction 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 represents a 19.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Several large investors have recently made changes to their positions in PARR. Vanguard Group Inc. raised its position in Par Pacific by 30.9% during the third 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Par Pacific by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock valued at $62,363,000 after purchasing an additional 7,280 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Par Pacific by 0.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company’s stock worth $62,044,000 after buying an additional 9,470 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Par Pacific by 42.8% during the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after buying an additional 456,473 shares in the last quarter. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Par Pacific during the 2nd quarter worth $34,609,000. 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.