Par Pacific (NYSE:PARR) Coverage Initiated at Raymond James

Analysts at Raymond James began coverage on shares of Par Pacific (NYSE:PARR) in a research report issued on Friday, Marketbeat reports. The firm set an “outperform” rating and a $25.00 price target on the stock. Raymond James’ price target would indicate a potential upside of 42.91% from the company’s current price.

Several other analysts also recently issued reports on the stock. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lowered their price target on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and cut their target price for the company from $26.00 to $22.00 in a research note on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $25.71.

Par Pacific Stock Down 1.1 %

Shares of Par Pacific stock opened at $17.49 on Friday. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69. The stock has a market cap of $978.82 million, a price-to-earnings ratio of 3.39 and a beta of 2.00. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average price of $16.87 and a 200 day moving average price of $19.09.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the firm posted $3.15 earnings per share. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. Equities research analysts forecast that Par Pacific will post 0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 sale, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings 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 last quarter. Canada Pension Plan Investment Board raised its stake in Par Pacific by 54.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 49,500 shares of the company’s stock valued at $1,250,000 after acquiring an additional 17,400 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Par Pacific during the 2nd quarter worth $1,932,000. AQR Capital Management LLC grew its stake in shares of Par Pacific by 210.9% in the second quarter. AQR Capital Management LLC now owns 85,987 shares of the company’s stock worth $2,171,000 after purchasing an additional 58,328 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after purchasing an additional 636,908 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

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.