Zacks Investment Research Upgrades Par Pacific (PARR) to “Buy”

Zacks Investment Research upgraded shares of Par Pacific (NYSEAMERICAN:PARR) from a hold rating to a buy rating in a research report report published on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $21.00 target price on the oil and gas company’s stock.

According to Zacks, “Par Pacific Holdings, Inc. manages and maintains interests in energy and infrastructure businesses. The company’s operating segment consists of refining, retail and logistics. It also markets and distributes crude oil from the Western United States and Canada to refining hubs in the Midwest, Gulf Coast, East Coast and to Hawaii. Par Pacific Holdings, Inc., formerly known as Par Petroleum Corporation, is headquartered in Houston, Texas. “

Other research analysts have also recently issued research reports about the stock. Goldman Sachs Group initiated coverage on shares of Par Pacific in a report on Tuesday, April 16th. They issued a buy rating and a $25.00 target price on the stock. Oppenheimer set a $22.00 target price on shares of Par Pacific and gave the stock a buy rating in a report on Monday, March 25th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $22.40.

Shares of Par Pacific stock opened at $19.01 on Thursday. Par Pacific has a 52-week low of $13.68 and a 52-week high of $21.34.

Par Pacific (NYSEAMERICAN:PARR) last issued its earnings results on Tuesday, March 5th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.09. The firm had revenue of $879.11 million during the quarter, compared to the consensus estimate of $969.20 million.

A number of large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC boosted its holdings in Par Pacific by 7.6% in the first quarter. Nisa Investment Advisors LLC now owns 14,100 shares of the oil and gas company’s stock valued at $251,000 after acquiring an additional 1,000 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in Par Pacific by 2,414.5% in the first quarter. Meeder Asset Management Inc. now owns 16,847 shares of the oil and gas company’s stock valued at $301,000 after acquiring an additional 16,177 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in Par Pacific by 6.8% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the oil and gas company’s stock valued at $199,000 after acquiring an additional 716 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Par Pacific by 7.5% in the first quarter. State of Alaska Department of Revenue now owns 10,095 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 700 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Par Pacific by 11.9% in the fourth quarter. Geode Capital Management LLC now owns 306,610 shares of the oil and gas company’s stock valued at $4,347,000 after acquiring an additional 32,543 shares in the last quarter. Institutional investors and hedge funds own 83.57% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.

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