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 report released on Friday.

Other analysts have also issued reports about the company. Raymond James assumed coverage on Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price target on the stock. JPMorgan Chase & Co. cut their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group cut their price target on Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the company from $26.00 to $22.00 in a research note on Monday, December 16th. Finally, TD Cowen cut their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.86.

Par Pacific Stock Performance

NYSE:PARR opened at $14.39 on Friday. The stock’s 50-day simple moving average is $16.65 and its 200 day simple moving average is $17.72. The firm has a market capitalization of $805.26 million, a PE ratio of 2.79 and a beta of 1.99. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific has a twelve month low of $13.40 and a twelve month high of $40.20.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently modified their holdings of the company. US Bancorp DE increased its holdings in shares of Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after buying an additional 700 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Par Pacific by 2.6% during the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock worth $565,000 after buying an additional 810 shares in the last quarter. Martingale Asset Management L P grew its holdings in Par Pacific by 1.9% during the third quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after buying an additional 921 shares in the last quarter. Finally, Inspire Investing LLC grew its holdings in Par Pacific by 4.6% during the fourth quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after buying an additional 1,066 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

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.