Par Pacific (NYSE:PARR) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Par Pacific (NYSE:PARR) from a hold rating to a sell rating in a research note released on Wednesday morning.

Other equities research analysts have also recently issued research reports about the stock. Mizuho reduced their target price on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group cut their price target on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Finally, UBS Group cut their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Performance

Shares of NYSE PARR traded down $0.41 during mid-day trading on Wednesday, hitting $16.13. The company had a trading volume of 67,782 shares, compared to its average volume of 903,782. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The business’s 50-day simple moving average is $18.36 and its 200-day simple moving average is $23.29. Par Pacific has a 12 month low of $14.84 and a 12 month high of $40.69. The firm has a market cap of $908.60 million, a P/E ratio of 3.21 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 9.96%. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter last year, the company earned $3.15 earnings per share. The firm’s revenue was down 16.9% on a year-over-year basis. As a group, analysts predict that Par Pacific will post 0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Headlands Technologies LLC increased its holdings in shares of Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific in the second quarter valued at approximately $43,000. Quarry LP increased its holdings in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Par Pacific in the second quarter valued at approximately $104,000. Institutional investors own 92.15% of the company’s stock.

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.