Par Pacific (NYSE:PARR) Reaches New 52-Week Low on Analyst Downgrade

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price reached a new 52-week low on Thursday after StockNews.com downgraded the stock from a hold rating to a sell rating. The stock traded as low as $13.46 and last traded at $13.50, with a volume of 119918 shares trading hands. The stock had previously closed at $13.94.

PARR has been the subject of several other research reports. The Goldman Sachs Group decreased their price target on shares of Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday. Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Raymond James started coverage on shares of Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, TD Cowen reduced their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $22.86.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Large investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. grew its holdings in shares of 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 buying an additional 315,967 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of Par Pacific by 1,014.3% during the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after buying an additional 249,290 shares during the last quarter. State Street Corp grew its holdings in shares of 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 buying an additional 328,325 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Par Pacific by 7.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock valued at $2,248,000 after buying an additional 8,844 shares during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Par Pacific by 63.8% during the third quarter. Algert Global LLC now owns 303,970 shares of the company’s stock valued at $5,350,000 after buying an additional 118,393 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $805.26 million, a PE ratio of 2.79 and a beta of 1.99. The business’s fifty day moving average price is $16.65 and its two-hundred day moving average price is $17.72.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) EPS 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 analysts’ expectations of $1.68 billion. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

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.