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

StockNews.com lowered shares of Par Pacific (NYSE:PARR – Get Rating) from a buy rating to a hold rating in a report released on Tuesday morning.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group increased their price target on shares of Par Pacific from $24.00 to $27.00 and gave the stock a neutral rating in a report on Tuesday, February 14th. TD Cowen cut their price target on shares of Par Pacific from $32.00 to $28.00 and set an outperform rating on the stock in a report on Friday, May 5th. JPMorgan Chase & Co. increased their price target on shares of Par Pacific from $29.00 to $34.00 and gave the stock a neutral rating in a report on Tuesday, March 28th. UBS Group started coverage on shares of Par Pacific in a report on Wednesday, March 8th. They issued a neutral rating and a $34.00 price target on the stock. Finally, Piper Sandler lowered their price objective on Par Pacific from $39.00 to $34.00 in a research report on Thursday, May 18th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $29.25.

Par Pacific Stock Performance

PARR opened at $21.55 on Tuesday. Par Pacific has a 52-week low of $13.72 and a 52-week high of $30.49. The company has a quick ratio of 0.65, a current ratio of 1.24 and a debt-to-equity ratio of 0.61. The company has a market cap of $1.32 billion, a P/E ratio of 1.76 and a beta of 2.05. The firm’s 50-day moving average price is $24.87 and its 200-day moving average price is $24.70.

Par Pacific (NYSE:PARR – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.92 by $0.28. Par Pacific had a net margin of 9.65% and a return on equity of 108.48%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. As a group, equities analysts anticipate that Par Pacific will post 4.74 EPS for the current fiscal year.

Insider Activity

In other news, CAO Ivan Daniel Guerra sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $28.28, for a total transaction of $212,100.00. Following the transaction, the chief accounting officer now owns 18,925 shares in the company, valued at approximately $535,199. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Ivan Daniel Guerra sold 7,500 shares of the stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $28.28, for a total transaction of $212,100.00. Following the transaction, the chief accounting officer now owns 18,925 shares in the company, valued at approximately $535,199. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, President William Monteleone sold 13,589 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $28.41, for a total value of $386,063.49. Following the transaction, the president now owns 304,862 shares in the company, valued at approximately $8,661,129.42. The disclosure for this sale can be found here. Insiders have sold 23,089 shares of company stock worth $657,863 in the last quarter. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. Financial Management Professionals Inc. purchased a new position in Par Pacific in the 4th quarter valued at $31,000. Gladius Capital Management LP purchased a new position in Par Pacific in the 4th quarter valued at $38,000. National Bank of Canada FI purchased a new position in Par Pacific in the 4th quarter valued at $58,000. NewEdge Advisors LLC purchased a new position in Par Pacific in the 1st quarter valued at $60,000. Finally, Captrust Financial Advisors lifted its holdings in Par Pacific by 53.3% in the 1st quarter. Captrust Financial Advisors now owns 5,181 shares of the company’s stock valued at $67,000 after purchasing an additional 1,801 shares in the last quarter. Hedge funds and other institutional investors own 92.76% of the company’s stock.

About Par Pacific

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Par Pacific Holdings, Inc engages in the operation of energy and infrastructure businesses. It operates through the following segments: Refining, Retail, Logistics, and Other. The Refining segment produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, low sulfur fuel oil, and other associated refined products.