Par Pacific (NYSE:PARR) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Par Pacific (NYSE:PARR) from a hold rating to a sell rating in a research note published on Wednesday morning.

A number of other brokerages have also recently issued reports on PARR. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th. UBS Group cut their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. TD Cowen decreased their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Mizuho dropped their price objective on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Par Pacific Trading Up 1.4 %

PARR opened at $16.14 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. Par Pacific has a one year low of $14.84 and a one year high of $40.69. The company has a market cap of $909.17 million, a P/E ratio of 3.13 and a beta of 1.99. The business’s 50-day simple moving average is $18.01 and its 200-day simple moving average is $23.01.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 9.96%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $3.15 EPS. The company’s revenue was down 16.9% on a year-over-year basis. As a group, equities research analysts expect that Par Pacific will post 0.76 EPS for the current fiscal year.

Institutional Trading of Par Pacific

A number of institutional investors have recently modified their holdings of PARR. Acadian Asset Management LLC acquired a new stake in Par Pacific in the first quarter valued at $978,000. Russell Investments Group Ltd. lifted its stake in shares of Par Pacific by 14.9% in the first quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock valued at $7,579,000 after purchasing an additional 26,485 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Par Pacific by 160.2% during the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares in the last quarter. Quantbot Technologies LP acquired a new position in Par Pacific during the first quarter worth about $2,156,000. Finally, WINTON GROUP Ltd increased its holdings in Par Pacific by 802.8% in the second quarter. WINTON GROUP Ltd now owns 134,185 shares of the company’s stock valued at $3,388,000 after buying an additional 119,321 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.