Par Pacific (NYSE:PARR) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Par Pacific (NYSE:PARR) from a strong-buy rating to a buy rating in a report published on Saturday morning.

PARR has been the topic of several other reports. Mizuho raised their target price on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Piper Sandler set a $57.00 price target on shares of Par Pacific in a report on Monday, January 12th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Finally, UBS Group boosted their price target on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $42.30 on Friday. The company has a market cap of $2.13 billion, a P/E ratio of 8.91 and a beta of 1.23. The business has a fifty day simple moving average of $38.35 and a 200-day simple moving average of $36.90. Par Pacific has a 52 week low of $11.86 and a 52 week high of $48.40. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 423,022 shares in the company, valued at $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Federated Hermes Inc. purchased a new stake in shares of Par Pacific during the third quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd acquired a new stake in Par Pacific during the 3rd quarter valued at $48,000. Nisa Investment Advisors LLC increased its stake in Par Pacific by 157.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after buying an additional 976 shares during the period. USA Financial Formulas purchased a new stake in Par Pacific during the 3rd quarter worth $82,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.