Par Pacific (NYSE:PARR) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Par Pacific (NYSE:PARR) from a sell rating to a hold rating in a research note published on Thursday.

PARR has been the topic of several other research reports. TD Cowen cut their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Mizuho cut their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Finally, UBS Group cut their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Par Pacific currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Par Pacific Trading Up 0.9 %

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’s 50-day simple moving average is $17.61 and its two-hundred day simple moving average is $22.43. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a market capitalization of $987.52 million, a price-to-earnings ratio of 3.42 and a beta of 1.99.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS 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 10.06%. The firm 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 business’s revenue was down 16.9% compared to the same quarter last year. Research analysts forecast that Par Pacific will post 0.95 EPS for the current fiscal year.

Institutional Trading of Par Pacific

A number of hedge funds have recently made changes to their positions in PARR. Pacer Advisors Inc. purchased a new position in Par Pacific in the 3rd quarter worth approximately $61,870,000. Millennium Management LLC raised its stake in shares of Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after purchasing an additional 636,908 shares during the last quarter. State Street Corp lifted 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 purchasing an additional 328,325 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position 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. Finally, Walleye Capital LLC increased its holdings in Par Pacific by 1,014.3% in the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after buying an additional 249,290 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

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.