Par Pacific (NYSE:PARR) Rating Lowered to “Sell” at StockNews.com

Par Pacific (NYSE:PARR) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Wednesday.

Several other research analysts have also weighed in on PARR. The Goldman Sachs Group dropped their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. Finally, JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Performance

Par Pacific stock opened at $15.92 on Wednesday. The company has a market cap of $896.77 million, a P/E ratio of 3.09 and a beta of 1.99. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The firm’s 50 day simple moving average is $18.26 and its 200-day simple moving average is $23.24.

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

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently added to or reduced their stakes in PARR. Acadian Asset Management LLC acquired a new stake in shares of Par Pacific in the first quarter worth $978,000. Russell Investments Group Ltd. lifted its position in Par Pacific by 14.9% during the 1st quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock worth $7,579,000 after acquiring an additional 26,485 shares during the last quarter. 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 valued at $9,033,000 after acquiring an additional 315,967 shares during the period. Quantbot Technologies LP bought a new stake in Par Pacific during the first quarter valued at about $2,156,000. Finally, WINTON GROUP Ltd grew its position in shares of 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 purchasing an additional 119,321 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.