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 research note issued to investors on Thursday.

Other equities research analysts have also issued reports about the company. TD Cowen lowered their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Mizuho dropped their price target on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. 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. The Goldman Sachs Group decreased their price objective 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. Finally, Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $23.00 in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Par Pacific has a consensus rating of “Hold” and an average target price of $28.00.

Par Pacific Stock Performance

Shares of PARR stock opened at $17.65 on Thursday. The firm has a market capitalization of $987.52 million, a PE ratio of 3.42 and a beta of 1.99. The firm has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $22.43. Par Pacific has a 12 month low of $14.84 and a 12 month high of $40.69. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last announced 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. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.15 EPS. Analysts forecast that Par Pacific will post 0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC increased its position in shares of Par Pacific by 215.1% during 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 period. Meeder Asset Management Inc. bought a new position in Par Pacific in the 2nd quarter valued at $43,000. Quarry LP boosted its holdings in Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the period. nVerses Capital LLC grew its position in shares of Par Pacific by 41.7% during the 2nd 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 bought a new position in shares of Par Pacific in the second quarter worth $104,000. Institutional investors own 92.15% of the company’s stock.

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.