Zacks Investment Research cut shares of Par Pacific Holdings, Inc. (NASDAQ:PARR) from a buy rating to a hold rating in a report issued on Tuesday.

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. “

Several other analysts have also recently weighed in on the company. Miller Tabak raised Par Pacific Holdings from a hold rating to a strong-buy rating and boosted their price objective for the stock from $24.00 to $25.30 in a report on Wednesday, August 3rd. Mizuho started coverage on Par Pacific Holdings in a report on Wednesday, October 5th. They set a buy rating and a $20.00 price objective for the company. Finally, Seaport Global Securities assumed coverage on Par Pacific Holdings in a report on Thursday, September 8th. They set a buy rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Par Pacific Holdings has a consensus rating of Buy and an average price target of $20.90.

Analyst Recommendations for Par Pacific Holdings (NASDAQ:PARR)

Shares of Par Pacific Holdings (NASDAQ:PARR) opened at 14.70 on Tuesday. The company’s 50 day moving average is $13.99 and its 200 day moving average is $14.43. The firm’s market capitalization is $668.94 million. Par Pacific Holdings has a 12-month low of $12.18 and a 12-month high of $25.69.

In related news, Director Melvyn N. Klein acquired 4,000 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was bought at an average price of $13.05 per share, with a total value of $52,200.00. Following the acquisition, the director now owns 23,339 shares in the company, valued at approximately $304,573.95. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Whitebox Advisors Llc sold 446,229 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $12.97, for a total value of $5,787,590.13. The disclosure for this sale can be found here.

Several large investors have recently added to or reduced their stakes in the stock. Panagora Asset Management Inc. increased its stake in Par Pacific Holdings by 1.6% in the third quarter. Panagora Asset Management Inc. now owns 13,482 shares of the company’s stock valued at $176,000 after buying an additional 209 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in Par Pacific Holdings by 11.9% in the third quarter. UBS Asset Management Americas Inc. now owns 14,998 shares of the company’s stock worth $196,000 after buying an additional 1,598 shares during the period. Schroder Investment Management Group boosted its stake in Par Pacific Holdings by 13.8% in the third quarter. Schroder Investment Management Group now owns 14,499 shares of the company’s stock worth $190,000 after buying an additional 1,759 shares during the period. California Public Employees Retirement System boosted its stake in Par Pacific Holdings by 9.9% in the third quarter. California Public Employees Retirement System now owns 28,023 shares of the company’s stock worth $366,000 after buying an additional 2,523 shares during the period. Finally, Governors Lane LP boosted its stake in Par Pacific Holdings by 9.9% in the third quarter. Governors Lane LP now owns 29,015 shares of the company’s stock worth $380,000 after buying an additional 2,613 shares during the period.

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5 Day Chart for NASDAQ:PARR

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