Par Pacific (NYSE:PARR) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Par Pacific (NYSE:PARR) from a sell rating to a hold rating in a report issued on Thursday morning.

Other equities research analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $23.00 in a report on Friday, September 20th. The Goldman Sachs Group decreased their price objective on Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. UBS Group decreased their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Finally, Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific currently has an average rating of “Hold” and a consensus price target of $28.00.

Par Pacific Stock Up 0.9 %

Shares of Par Pacific stock opened at $17.65 on Thursday. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The business has a 50-day moving average of $17.61 and a two-hundred day moving average of $22.49. The company has a market capitalization of $987.52 million, a P/E ratio of 3.42 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the company earned $3.15 earnings per share. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. As a group, equities analysts predict that Par Pacific will post 0.95 EPS for the current year.

Institutional Trading of Par Pacific

Hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC lifted its position 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 buying an additional 796 shares during 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 lifted its position 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 buying an additional 2,027 shares during the last quarter. nVerses Capital LLC lifted its position 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 buying an additional 1,000 shares during 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. 92.15% of the stock is 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.