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

Raymond James began coverage on shares of Par Pacific (NYSE:PARR) in a report released on Friday morning, Marketbeat.com reports. The firm issued an outperform rating and a $25.00 price target on the stock.

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

Par Pacific Stock Down 1.1 %

Shares of NYSE:PARR opened at $17.49 on Friday. The company has a market capitalization of $978.79 million, a PE ratio of 3.39 and a beta of 2.00. 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 company’s fifty day moving average is $16.87 and its 200-day moving average is $19.12. Par Pacific has a 52 week low of $14.84 and a 52 week high of $40.69.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $3.15 earnings per share. Par Pacific’s revenue for the quarter was down 16.9% compared to the same quarter last year. Equities research analysts predict that Par Pacific will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction dated 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 transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PARR. GAMMA Investing LLC increased its stake in Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after acquiring an additional 1,167 shares during the period. Nisa Investment Advisors LLC increased its position 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 purchasing an additional 700 shares during the period. Quarry LP raised its stake in Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares in the last quarter. FMR LLC lifted its position in 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 purchasing an additional 4,826 shares during the period. Finally, MQS Management LLC acquired a new stake in Par Pacific during the third quarter worth about $185,000. Institutional investors own 92.15% of the company’s stock.

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.