Raymond James Initiates Coverage on Par Pacific (NYSE:PARR)

Raymond James began coverage on shares of Par Pacific (NYSE:PARR - Free Report) in a report published on Friday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $25.00 price objective on the stock.

PARR has been the topic of a number of other research reports. StockNews.com upgraded Par Pacific from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. 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 report on Monday, December 16th. Finally, The Goldman Sachs Group lowered their price target on shares of Par Pacific from $26.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $25.71.

Par Pacific Stock Performance

NYSE PARR traded down $0.19 during trading hours on Friday, reaching $17.49. The stock had a trading volume of 844,582 shares, compared to its average volume of 866,452. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The stock has a fifty day moving average of $16.87 and a 200 day moving average of $19.12. 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 stock has a market cap of $978.79 million, a P/E ratio of 3.39 and a beta of 2.00.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm earned $3.15 EPS. The business's revenue for the quarter was down 16.9% on a year-over-year basis. Sell-side analysts predict that Par Pacific will post 0.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William Pate sold 67,700 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company's stock worth $42,000 after buying an additional 700 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company's stock valued at $565,000 after acquiring an additional 810 shares in the last quarter. Martingale Asset Management L P raised its holdings in Par Pacific by 1.9% in the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company's stock valued at $849,000 after acquiring an additional 921 shares during the last quarter. Simplicity Wealth LLC lifted its stake in Par Pacific by 6.6% in the 3rd quarter. Simplicity Wealth LLC now owns 14,872 shares of the company's stock worth $262,000 after purchasing an additional 923 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Par Pacific by 4.6% during the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company's stock worth $397,000 after purchasing an additional 1,066 shares during the last quarter. 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.