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

Par Pacific (NYSE:PARR) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

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

Par Pacific Trading Up 2.1 %

Shares of NYSE PARR opened at $14.39 on Friday. Par Pacific has a twelve month low of $13.40 and a twelve month high of $40.20. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $16.65 and a 200-day simple moving average of $17.68. The stock has a market capitalization of $805.26 million, a PE ratio of 2.79 and a beta of 1.99.

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

Insider Transactions at Par Pacific

In related news, Director William Pate sold 67,700 shares of the firm’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 value of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after purchasing an additional 1,167 shares in the last quarter. Sterling Capital Management LLC grew its holdings in Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after buying an additional 1,528 shares during the last quarter. US Bancorp DE grew its holdings in Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after buying an additional 652 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Par Pacific by 123.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after buying an additional 1,784 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.