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

StockNews.com downgraded shares of Par Pacific (NYSE:PARR) from a hold rating to a sell rating in a research report released on Wednesday morning.

Other equities analysts also recently issued research reports about the company. UBS Group dropped their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Mizuho cut their target price on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. cut shares of 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 report on Monday, September 9th. Finally, JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Par Pacific Trading Down 2.5 %

Shares of Par Pacific stock traded down $0.41 on Wednesday, reaching $16.13. 67,782 shares of the company were exchanged, compared to its average volume of 903,782. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The firm has a market capitalization of $908.60 million, a price-to-earnings ratio of 3.21 and a beta of 1.99. The stock has a fifty day moving average price of $18.36 and a 200-day moving average price of $23.29.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 9.96%. The business 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 earnings per share. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, analysts expect that Par Pacific will post 0.76 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC boosted its holdings in shares of Par Pacific by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock worth $721,000 after buying an additional 563 shares during the period. Simplicity Wealth LLC grew its position in shares of Par Pacific by 5.1% in the second quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock valued at $352,000 after purchasing an additional 677 shares during the last quarter. Linden Thomas Advisory Services LLC increased its stake in shares of Par Pacific by 1.6% in the second quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock worth $1,108,000 after purchasing an additional 703 shares during the period. ProShare Advisors LLC lifted its position in shares of Par Pacific by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock worth $413,000 after purchasing an additional 768 shares during the last quarter. Finally, Headlands Technologies LLC boosted its stake in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

About Par Pacific

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.