Oppenheimer Begins Coverage on Par Pacific (PARR)

Oppenheimer began coverage on shares of Par Pacific (NYSEAMERICAN:PARR) in a research report report published on Thursday, Marketbeat reports. The firm issued an outperform rating and a $22.00 target price on the oil and gas company’s stock.

A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Par Pacific from a strong-buy rating to a hold rating in a research note on Thursday, August 9th. Cowen cut Par Pacific from an outperform rating to a market perform rating and set a $22.00 price objective for the company. in a research note on Wednesday, September 12th.

PARR stock opened at $16.88 on Thursday. Par Pacific has a fifty-two week low of $16.10 and a fifty-two week high of $21.34.

Par Pacific (NYSEAMERICAN:PARR) last issued its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.15). The business had revenue of $909.78 million during the quarter, compared to the consensus estimate of $744.50 million.

A number of hedge funds and other institutional investors have recently modified their holdings of PARR. BlackRock Inc. increased its holdings in shares of Par Pacific by 17.7% in the third quarter. BlackRock Inc. now owns 4,546,472 shares of the oil and gas company’s stock valued at $92,748,000 after purchasing an additional 683,693 shares during the period. FMR LLC acquired a new stake in Par Pacific in the third quarter valued at $6,960,000. Point72 Asset Management L.P. acquired a new stake in Par Pacific in the second quarter valued at $5,725,000. Evermore Global Advisors LLC acquired a new stake in Par Pacific in the third quarter valued at $6,645,000. Finally, Credit Suisse AG grew its holdings in Par Pacific by 951.5% in the third quarter. Credit Suisse AG now owns 356,257 shares of the oil and gas company’s stock valued at $7,267,000 after purchasing an additional 322,377 shares during the last quarter. Institutional investors own 83.57% of the company’s stock.

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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