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

Par Pacific logo with Energy background

Key Points

  • Par Pacific has been upgraded to a "strong-buy" rating by Wall Street Zen, reflecting a positive shift in analysts' outlook for the stock.
  • Analysts have mixed opinions on Par Pacific, with five maintaining a "hold" rating, five issuing a "buy" rating, and one assigning a "strong buy" rating; the consensus price target is $28.96.
  • Par Pacific reported impressive quarterly earnings of $1.54 EPS, significantly exceeding estimates, despite experiencing a 6.2% decline in revenue year-over-year.
  • Looking to export and analyze Par Pacific data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

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

Other equities analysts have also issued research reports about the stock. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research report on Wednesday, May 28th. Piper Sandler increased their price objective on shares of Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. TD Cowen lowered their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday. UBS Group lowered their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Mizuho set a $34.00 target price on Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. Five investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.96.

View Our Latest Analysis on Par Pacific

Par Pacific Price Performance

Shares of PARR traded down $0.02 during mid-day trading on Friday, reaching $27.28. The stock had a trading volume of 764,839 shares, compared to its average volume of 1,381,172. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -97.43 and a beta of 1.83. Par Pacific has a 12 month low of $11.86 and a 12 month high of $35.32. The business has a fifty day moving average of $28.64 and a 200 day moving average of $20.25. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The company's revenue was down 6.2% on a year-over-year basis. Equities analysts predict that Par Pacific will post 0.15 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its position in Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after purchasing an additional 586,003 shares during the period. Charles Schwab Investment Management Inc. increased its position in Par Pacific by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock valued at $17,194,000 after purchasing an additional 296,536 shares during the period. Invesco Ltd. increased its position in Par Pacific by 6.2% during the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock valued at $16,500,000 after purchasing an additional 67,481 shares during the period. Nuveen Asset Management LLC increased its position in Par Pacific by 9.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock valued at $16,878,000 after purchasing an additional 91,814 shares during the period. Finally, FJ Investments LLC purchased a new position in Par Pacific during the 2nd quarter valued at about $26,294,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Par Pacific (NYSE:PARR)

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