Today, The Zacks Investment Research Downgraded Par Pacific Holdings, Inc. (PARR) to Hold

Today, The Zacks Investment Research Downgraded Par Pacific Holdings, Inc. (PARR) to Hold
Zacks Investment Research downgraded shares of Par Pacific Holdings, Inc. (NASDAQ:PARR) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

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 brokerages have also issued reports on PARR. Seaport Global Securities initiated coverage on shares of Par Pacific Holdings in a research note on Thursday, September 8th. They issued a buy rating and a $22.00 price target for the company. Mizuho initiated coverage on shares of Par Pacific Holdings in a research note on Wednesday, October 5th. They issued a buy rating and a $20.00 price target for the company. Finally, Miller Tabak upgraded shares of Par Pacific Holdings from a hold rating to a strong-buy rating and lifted their price target for the stock from $24.00 to $25.30 in a research note on Wednesday, August 3rd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average target price of $20.90.

Shares of Par Pacific Holdings (NASDAQ:PARR) opened at 14.70 on Tuesday. Par Pacific Holdings has a 1-year low of $12.18 and a 1-year high of $25.69. The stock has a 50 day moving average of $14.01 and a 200 day moving average of $14.43. The firm’s market cap is $668.94 million.

In other Par Pacific Holdings news, major shareholder Whitebox Advisors Llc sold 105,700 shares of the business’s stock in a transaction on Friday, November 18th. The shares were sold at an average price of $14.65, for a total transaction of $1,548,505.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Melvyn N. Klein bought 4,000 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average price of $13.05 per share, with a total value of $52,200.00. Following the purchase, the director now owns 23,339 shares of the company’s stock, valued at $304,573.95. The disclosure for this purchase can be found here.

A number of hedge funds have recently added to or reduced their stakes in the stock. Whitebox Advisors LLC increased its position in shares of Par Pacific Holdings by 1.9% in the third quarter. Whitebox Advisors LLC now owns 7,994,337 shares of the company’s stock valued at $104,566,000 after buying an additional 148,314 shares during the period. Brown Advisory Inc. increased its position in shares of Par Pacific Holdings by 74.5% in the second quarter. Brown Advisory Inc. now owns 1,931,828 shares of the company’s stock valued at $29,634,000 after buying an additional 824,685 shares during the period. Vanguard Group Inc. increased its position in shares of Par Pacific Holdings by 1.9% in the second quarter. Vanguard Group Inc. now owns 1,325,524 shares of the company’s stock valued at $20,334,000 after buying an additional 24,866 shares during the period. Park West Asset Management LLC increased its position in shares of Par Pacific Holdings by 152.6% in the third quarter. Park West Asset Management LLC now owns 1,255,987 shares of the company’s stock valued at $16,428,000 after buying an additional 758,835 shares during the period. Finally, BlackRock Fund Advisors increased its position in shares of Par Pacific Holdings by 20.1% in the third quarter. BlackRock Fund Advisors now owns 798,015 shares of the company’s stock valued at $10,438,000 after buying an additional 133,728 shares during the period.

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