Par Pacific (NYSE:PARR) Reaches New 1-Year Low Following Analyst Downgrade

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price reached a new 52-week low during trading on Thursday after The Goldman Sachs Group lowered their price target on the stock from $20.00 to $18.00. The Goldman Sachs Group currently has a neutral rating on the stock. Par Pacific traded as low as $13.46 and last traded at $13.50, with a volume of 119918 shares. The stock had previously closed at $13.94.

A number of other brokerages have also recently commented on PARR. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. TD Cowen decreased their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday. Raymond James assumed coverage on shares of Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Finally, Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $22.00 in a research report on Monday, December 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Par Pacific currently has a consensus rating of “Hold” and a consensus price target of $22.86.

Insider Transactions at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new stake in shares of Par Pacific in the 4th quarter valued at $286,000. GTS Securities LLC acquired a new position in Par Pacific in the fourth quarter valued at $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Par Pacific by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company’s stock valued at $2,288,000 after acquiring an additional 11,891 shares during the last quarter. iSAM Funds UK Ltd grew its holdings in Par Pacific by 63.5% during the 4th quarter. iSAM Funds UK Ltd now owns 19,697 shares of the company’s stock worth $323,000 after acquiring an additional 7,651 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Par Pacific in the 4th quarter worth about $544,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The business has a 50 day moving average price of $16.67 and a 200-day moving average price of $17.78. The company has a market capitalization of $789.82 million, a price-to-earnings ratio of 2.74 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Research analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

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.