Par Pacific (NYSE:PARR) Upgraded by Wall Street Zen to "Strong-Buy" Rating

Key Points

• Par Pacific (NYSE:PARR) has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, indicating a positive outlook from analysts.
• The company's recent earnings report showed $1.54 earnings per share, significantly exceeding analyst expectations of $0.74, along with revenue of $1.89 billion.
• Insider selling activity has been noted, with insiders selling a total of 23,954 shares worth approximately $796,308 over the last 90 days.

Wall Street Zen upgraded shares of Par Pacific (NYSE:PARR - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

Several other brokerages have also recently issued reports on PARR. Cowen reissued a "buy" rating on shares of Par Pacific in a report on Thursday, August 7th. The Goldman Sachs Group cut shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a report on Wednesday, May 28th. Raymond James Financial lifted their price objective on shares of Par Pacific from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. TD Cowen cut their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Piper Sandler lifted their price objective on shares of Par Pacific from $39.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $30.68.

Par Pacific Stock Performance

Shares of Par Pacific stock traded up $0.42 during trading on Friday, hitting $35.69. 1,683,516 shares of the company's stock were exchanged, compared to its average volume of 1,623,746. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The business has a 50-day simple moving average of $32.11 and a 200-day simple moving average of $23.46. Par Pacific has a 52-week low of $11.86 and a 52-week high of $36.39. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -127.46 and a beta of 1.82.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm's revenue was down 6.2% compared to the same quarter last year. On average, research analysts forecast that Par Pacific will post 0.15 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total transaction of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares of the company's stock, valued at $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Terrill Pitkin sold 5,164 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,954 shares of company stock valued at $863,048. Corporate insiders own 4.40% of the company's stock.

Institutional Trading of Par Pacific

A number of institutional investors and hedge funds have recently modified their holdings of PARR. Ethic Inc. boosted its holdings in Par Pacific by 1.9% in the 2nd quarter. Ethic Inc. now owns 21,801 shares of the company's stock valued at $580,000 after purchasing an additional 396 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Par Pacific by 17.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company's stock valued at $76,000 after purchasing an additional 428 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Par Pacific by 175.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after purchasing an additional 753 shares during the last quarter. First Pacific Advisors LP boosted its holdings in Par Pacific by 1.1% in the 2nd quarter. First Pacific Advisors LP now owns 72,632 shares of the company's stock valued at $1,927,000 after purchasing an additional 820 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Par Pacific by 7.1% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,337 shares of the company's stock valued at $327,000 after purchasing an additional 820 shares during the last quarter. Hedge funds and other institutional investors 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.