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

Research analysts at Raymond James started coverage on shares of Par Pacific (NYSE:PARR) in a research note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ price objective would indicate a potential upside of 41.72% from the company’s current price.

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

Par Pacific Price Performance

Shares of PARR opened at $17.64 on Friday. The company has a market capitalization of $986.96 million, a price-to-earnings ratio of 3.42 and a beta of 2.00. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The firm has a 50-day simple moving average of $16.88 and a 200-day simple moving average of $19.17. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

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 company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $3.15 EPS. The company’s revenue was down 16.9% on a year-over-year basis. On average, equities research analysts anticipate that Par Pacific will post 0.14 earnings per share for the current year.

Insider Buying and Selling

In other news, Director William Pate sold 67,700 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PARR. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after buying an additional 17,509 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Par Pacific by 54.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 49,500 shares of the company’s stock worth $1,250,000 after purchasing an additional 17,400 shares during the period. Squarepoint Ops LLC purchased a new position in Par Pacific during the second quarter worth about $1,932,000. AQR Capital Management LLC boosted its stake in Par Pacific by 210.9% in the 2nd quarter. AQR Capital Management LLC now owns 85,987 shares of the company’s stock worth $2,171,000 after buying an additional 58,328 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after buying an additional 636,908 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

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.