Zacks Research Downgrades Par Pacific (NYSE:PARR) to Hold

Par Pacific (NYSE:PARR) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Tudor, Pickering, Holt & Co. raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Mizuho boosted their target price on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Raymond James Financial reissued an “outperform” rating and set a $45.00 price target (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Par Pacific currently has an average rating of “Moderate Buy” and a consensus price target of $42.14.

Par Pacific Stock Performance

NYSE PARR opened at $38.56 on Tuesday. Par Pacific has a twelve month low of $11.86 and a twelve month high of $48.40. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The stock has a market cap of $1.94 billion, a P/E ratio of 8.12 and a beta of 1.25. The company’s 50-day simple moving average is $41.06 and its 200 day simple moving average is $34.49.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, research analysts forecast that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other news, EVP Richard Creamer sold 15,848 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the transaction, the executive vice president directly owned 54,654 shares in the company, valued at approximately $2,252,837.88. This represents a 22.48% 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. Also, CEO William Monteleone sold 99,284 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the sale, the chief executive officer directly owned 423,022 shares in the company, valued at $18,253,399.30. This trade represents a 19.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of Par Pacific by 16.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after purchasing an additional 259 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Par Pacific by 1.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock worth $596,000 after purchasing an additional 266 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after purchasing an additional 293 shares in the last quarter. Amundi increased its stake in Par Pacific by 3.6% in the 3rd quarter. Amundi now owns 11,013 shares of the company’s stock valued at $388,000 after buying an additional 386 shares during the last quarter. Finally, Ethic Inc. lifted its position in Par Pacific by 1.9% during the 2nd quarter. Ethic Inc. now owns 21,801 shares of the company’s stock worth $580,000 after buying an additional 396 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.