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

Par Pacific (NYSE:PARR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

Other equities research analysts have also recently issued reports about the company. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. Mizuho decreased their target price 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. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th. Finally, Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $28.00.

Par Pacific Stock Performance

NYSE PARR 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 company has a 50 day moving average of $17.61 and a 200-day moving average of $22.54. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm has a market cap of $987.52 million, a price-to-earnings ratio of 3.42 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS 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%. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 earnings per share. On average, equities analysts forecast that Par Pacific will post 0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its position in Par Pacific by 22.3% in the first quarter. Sei Investments Co. now owns 16,226 shares of the company’s stock valued at $601,000 after purchasing an additional 2,958 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Par Pacific by 14.9% in the 1st quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock valued at $7,579,000 after buying an additional 26,485 shares during the last quarter. ProShare Advisors LLC boosted its position in Par Pacific by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock worth $413,000 after buying an additional 768 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Par Pacific by 11.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,561 shares of the company’s stock worth $651,000 after buying an additional 1,780 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Par Pacific during the 1st quarter worth approximately $978,000. 92.15% of the stock is currently 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.