Par Pacific (PARR) Upgraded at Zacks Investment Research

Par Pacific (NYSEAMERICAN:PARR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm currently has a $21.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.78% from the stock’s previous close.

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 analysts have also recently issued research reports about the company. Goldman Sachs Group started coverage on Par Pacific in a research report on Tuesday. They issued a “buy” rating and a $25.00 price target for the company. Oppenheimer set a $22.00 price target on Par Pacific and gave the stock a “buy” rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $22.40.

Shares of NYSEAMERICAN PARR opened at $19.13 on Thursday. Par Pacific has a one year low of $13.68 and a one year 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 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm had revenue of $879.11 million during the quarter, compared to analysts’ expectations of $969.20 million.

Large investors have recently made changes to their positions in the business. Flinton Capital Management LLC acquired a new stake in shares of Par Pacific in the fourth quarter worth about $26,000. State of Alaska Department of Revenue lifted its position in shares of Par Pacific by 13.6% during the 4th quarter. State of Alaska Department of Revenue now owns 9,395 shares of the oil and gas company’s stock worth $133,000 after purchasing an additional 1,125 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Par Pacific during the 3rd quarter worth about $202,000. Oregon Public Employees Retirement Fund acquired a new position in shares of Par Pacific during the 4th quarter worth about $151,000. Finally, Louisiana State Employees Retirement System lifted its position in shares of Par Pacific by 6.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 716 shares during the last quarter. 83.57% of the stock is owned by institutional investors.

Par Pacific Company Profile

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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