Par Pacific (NYSE:PARR) Stock Rating Lowered by Mizuho

Mizuho cut shares of Par Pacific (NYSE:PARR) from an outperform rating to a neutral rating in a research report released on Monday morning, Marketbeat.com reports. Mizuho currently has $22.00 target price on the stock, down from their previous target price of $26.00.

Several other equities research analysts also recently commented on the stock. UBS Group lowered their price objective on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group cut their price target on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Par Pacific has an average rating of “Hold” and a consensus target price of $27.33.

Par Pacific Trading Down 1.1 %

Shares of NYSE:PARR opened at $15.82 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm has a market capitalization of $885.16 million, a P/E ratio of 3.07 and a beta of 1.99. The business’s 50-day moving average is $16.85 and its 200 day moving average is $20.60. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.15 earnings per share. On average, research analysts predict that Par Pacific will post 1.12 earnings per share for the current fiscal year.

Insider Activity at Par Pacific

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Trading of Par Pacific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. Headlands Technologies LLC boosted its stake in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Par Pacific in the second quarter valued at approximately $43,000. Quarry LP grew its holdings in Par Pacific by 610.5% in the second 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 increased its position in shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Par Pacific during the 2nd quarter worth approximately $104,000. Institutional investors and hedge funds 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.