Par Pacific (NYSE:PARR) Upgraded at StockNews.com

StockNews.com upgraded shares of Par Pacific (NYSE:PARR) from a sell rating to a hold rating in a research report released on Thursday.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group lowered their target price on Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Mizuho lowered their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Tudor Pickering raised Par Pacific to a “hold” rating in a report on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Par Pacific has a consensus rating of “Hold” and a consensus price target of $28.00.

Par Pacific Stock Performance

PARR stock opened at $17.65 on Thursday. 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 stock has a market capitalization of $987.52 million, a price-to-earnings ratio of 3.42 and a beta of 1.99. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The stock’s fifty day moving average is $17.61 and its two-hundred day moving average is $22.49.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same period last year, the business posted $3.15 earnings per share. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. On average, research analysts predict that Par Pacific will post 0.95 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of PARR. Headlands Technologies LLC lifted its stake in shares of Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares during the period. Meeder Asset Management Inc. acquired a new position in Par Pacific in the second quarter valued at about $43,000. Quarry LP lifted its stake 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 buying an additional 2,027 shares during the period. nVerses Capital LLC lifted its stake in 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 during the period. Finally, Innealta Capital LLC acquired a new position in Par Pacific in the second quarter valued at about $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.