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

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

A number of other research firms also recently weighed in on PARR. TD Cowen decreased their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Mizuho reduced their price target on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. Finally, UBS Group dropped their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Par Pacific currently has an average rating of “Hold” and a consensus price target of $28.00.

Par Pacific Trading Down 1.3 %

Shares of PARR traded down $0.23 during trading hours on Thursday, reaching $17.26. The stock had a trading volume of 232,313 shares, compared to its average volume of 907,474. The company has a market cap of $965.70 million, a P/E ratio of 3.39 and a beta of 1.99. Par Pacific has a 52 week low of $14.84 and a 52 week high of $40.69. 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 firm has a 50-day moving average of $17.65 and a 200 day moving average of $22.65.

Par Pacific (NYSE:PARR) last released its quarterly 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 10.06%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the company earned $3.15 earnings per share. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, sell-side analysts expect that Par Pacific will post 0.95 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

Several institutional investors have recently added to or reduced their stakes in PARR. Pacer Advisors Inc. acquired a new stake in Par Pacific during the third quarter worth approximately $61,870,000. Millennium Management LLC lifted its position in shares of Par Pacific by 48.4% during the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after buying an additional 636,908 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Par Pacific by 160.2% in 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 in the last quarter. Walleye Capital LLC boosted its stake in Par Pacific by 1,014.3% in 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 in the last quarter. Finally, Thomist Capital Management LP grew its position in Par Pacific by 50.0% in the second quarter. Thomist Capital Management LP now owns 559,277 shares of the company’s stock valued at $13,095,000 after acquiring an additional 186,411 shares during the last quarter. 92.15% of the stock is currently 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.