Trade Report: Today, Par Pacific Holdings, Inc. (PARR) Now Covered by Mizuho

Today, Par Pacific Holdings, Inc. (PARR) Now Covered by Mizuho

Equities researchers at Mizuho initiated coverage on shares of Par Pacific Holdings, Inc. (NASDAQ:PARR) in a research note issued on Wednesday. The firm set a “buy” rating and a $20.00 price target on the stock. Mizuho’s target price would suggest a potential upside of 39.66% from the stock’s current price.

A number of other research firms have also recently commented on PARR. Miller Tabak raised Par Pacific Holdings from a “hold” rating to a “strong-buy” rating and increased their target price for the company from $24.00 to $25.30 in a research note on Wednesday, August 3rd. Cowen and Company raised Par Pacific Holdings from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $18.00 to $20.00 in a research note on Tuesday, June 14th. Zacks Investment Research raised Par Pacific Holdings from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a research note on Friday, September 16th. Finally, Seaport Global Securities began coverage on Par Pacific Holdings in a research note on Thursday, September 8th. They set a “buy” rating and a $22.00 price objective on the stock. Three analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $20.66.

Shares of Par Pacific Holdings (NASDAQ:PARR) opened at 14.32 on Wednesday. Par Pacific Holdings has a 12 month low of $12.18 and a 12 month high of $28.31. The company has a 50-day moving average price of $13.20 and a 200-day moving average price of $15.67. The company’s market capitalization is $589.67 million.

In other news, major shareholder Whitebox Advisors Llc sold 182,204 shares of the firm’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $13.32, for a total transaction of $2,426,957.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Melvyn N. Klein acquired 4,000 shares of Par Pacific Holdings stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $52,200.00. Following the completion of the purchase, the director now directly owns 23,339 shares of the company’s stock, valued at approximately $304,573.95. The disclosure for this purchase can be found here.

Several hedge funds and other institutional investors have recently made changes to their positions in PARR. Teachers Advisors Inc. raised its stake in Par Pacific Holdings by 28.4% in the second quarter. Teachers Advisors Inc. now owns 52,501 shares of the company’s stock worth $805,000 after buying an additional 11,599 shares in the last quarter. American International Group Inc. raised its stake 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 worth $247,000 after buying an additional 6,716 shares in the last quarter. Alliancebernstein L.P. purchased a new stake in Par Pacific Holdings during the second quarter worth $193,000. BlackRock Institutional Trust Company N.A. raised its stake in Par Pacific Holdings by 62.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 534,173 shares of the company’s stock worth $8,194,000 after buying an additional 205,065 shares in the last quarter. Finally, BlackRock Fund Advisors raised its stake in Par Pacific Holdings by 71.6% in the second quarter. BlackRock Fund Advisors now owns 664,287 shares of the company’s stock worth $10,190,000 after buying an additional 277,184 shares in the last quarter.

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