StockNews.com Upgrades Par Pacific (NYSE:PARR) to Hold

Par Pacific (NYSE:PARR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

PARR has been the subject of several other reports. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $36.00 to $30.00 in a report on Wednesday, October 2nd. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research report on Monday, September 9th. Mizuho cut their price target on Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. TD Cowen lowered their price objective on 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, Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Par Pacific Stock Up 0.9 %

Shares of NYSE PARR opened at $17.65 on Thursday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $987.52 million, a PE ratio of 3.42 and a beta of 1.99. The firm has a fifty day moving average of $17.61 and a 200-day moving average of $22.54. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69.

Par Pacific (NYSE:PARR) last issued 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. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.15 earnings per share. On average, analysts anticipate that Par Pacific will post 0.95 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PARR. Pacer Advisors Inc. acquired a new position in shares of Par Pacific during the third quarter valued at about $61,870,000. State Street Corp increased its stake in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after acquiring an additional 328,325 shares during the period. Dimensional Fund Advisors LP raised its holdings in Par Pacific by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after acquiring an additional 17,509 shares in the last quarter. Millennium Management LLC lifted its position in shares of Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after acquiring an additional 636,908 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after acquiring an additional 175,331 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.