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

StockNews.com lowered shares of Par Pacific (NYSE:PARR) from a hold rating to a sell rating in a report released on Friday.

Several other brokerages also recently issued reports on PARR. TD Cowen cut their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. The Goldman Sachs Group cut their price target on Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday. JPMorgan Chase & Co. cut their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Finally, Raymond James assumed coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $22.86.

Par Pacific Trading Up 2.1 %

NYSE PARR opened at $14.39 on Friday. The company has a market cap of $805.26 million, a PE ratio of 2.79 and a beta of 1.99. 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 has a 12 month low of $13.40 and a 12 month high of $40.20. The stock has a 50 day moving average of $16.65 and a 200-day moving average of $17.72.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, equities research analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. bought a new position in shares of Par Pacific in the third quarter worth $61,870,000. State Street Corp increased its position in shares of Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after purchasing an additional 328,325 shares during the period. Millennium Management LLC increased its position in shares of Par Pacific by 43.4% in the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock worth $31,744,000 after purchasing an additional 586,003 shares during the period. Geode Capital Management LLC increased its position in shares of Par Pacific by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock worth $22,591,000 after purchasing an additional 7,804 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Par Pacific by 9.8% in the fourth quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company’s stock worth $16,878,000 after purchasing an additional 91,814 shares during the period. 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.