Par Pacific (NYSE:PARR) Sets New 12-Month Low on Analyst Downgrade

Par Pacific Holdings, Inc. (NYSE:PARR) shares hit a new 52-week low during trading on Thursday after TD Cowen lowered their price target on the stock from $21.00 to $17.00. TD Cowen currently has a buy 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 research analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. 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 objective for the company. Finally, The Goldman Sachs Group reduced their price objective on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and an average target price of $23.14.

Insider Activity at Par Pacific

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

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently added to or reduced their stakes in PARR. Harbor Capital Advisors Inc. increased its position in Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock valued at $9,033,000 after acquiring an additional 315,967 shares in the last quarter. Walleye Capital LLC boosted its stake in Par Pacific by 1,014.3% during the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after acquiring an additional 249,290 shares during the last quarter. State Street Corp boosted its stake in Par Pacific by 10.5% during the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after acquiring an additional 328,325 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Par Pacific by 7.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock worth $2,248,000 after acquiring an additional 8,844 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Par Pacific by 63.8% during the 3rd quarter. Algert Global LLC now owns 303,970 shares of the company’s stock worth $5,350,000 after acquiring an additional 118,393 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Stock Down 3.2 %

The firm’s 50 day moving average is $16.69 and its two-hundred day moving average is $17.81. The firm has a market cap of $755.30 million, a P/E ratio of 2.63 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 (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.68 billion. As a group, research analysts anticipate 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.