Zacks Investment Research Upgrades Par Pacific Holdings, Inc. (PARR) to “Strong-Buy”
Zacks Investment Research upgraded shares of Par Pacific Holdings, Inc. (NASDAQ:PARR) from a hold rating to a strong-buy rating in a research report report published on Friday morning. They currently have $16.00 target price on the 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. “
A number of other analysts also recently issued reports on PARR. Cowen and Company raised shares of Par Pacific Holdings from a market perform rating to an outperform rating in a report on Monday, June 13th. Seaport Global Securities assumed coverage on shares of Par Pacific Holdings in a report on Thursday, September 8th. They set a buy rating and a $22.00 price target on the stock. Finally, Miller Tabak raised shares of Par Pacific Holdings from a hold rating to a strong-buy rating and increased their price target for the stock from $24.00 to $25.30 in a report on Wednesday, August 3rd.
Shares of Par Pacific Holdings (NASDAQ:PARR) opened at 13.52 on Friday. The company’s market capitalization is $556.73 million. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $16.07. Par Pacific Holdings has a 12-month low of $12.18 and a 12-month high of $28.31.
In related news, Director Melvyn N. Klein acquired 4,000 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were acquired at an average cost of $13.05 per share, with a total value of $52,200.00. Following the completion of the acquisition, the director now directly owns 23,339 shares in the company, valued at approximately $304,573.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Whitebox Advisors Llc sold 182,204 shares of the stock in a transaction on Monday, September 12th. The shares were sold at an average price of $13.32, for a total transaction of $2,426,957.28. The disclosure for this sale can be found here.
Institutional investors have recently bought and sold shares of the stock. Nomura Holdings Inc. bought a new position in Par Pacific Holdings during the second quarter valued at about $167,000. Alliancebernstein L.P. bought a new position in Par Pacific Holdings during the second quarter valued at about $193,000. BlackRock Advisors LLC increased its position in Par Pacific Holdings by 47.0% in the second quarter. BlackRock Advisors LLC now owns 13,269 shares of the company’s stock valued at $204,000 after buying an additional 4,241 shares during the last quarter. A.R.T. Advisors LLC bought a new position in Par Pacific Holdings during the second quarter valued at about $244,000. Finally, American International Group Inc. increased its position in Par Pacific Holdings by 71.6% in the second quarter. American International Group Inc. now owns 16,097 shares of the company’s stock valued at $247,000 after buying an additional 6,716 shares during the last quarter.
Par Pacific Holdings Company Profile
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