Par Pacific (NYSE:PARR) Lowered to “Hold” Rating by Zacks Research

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

PARR has been the subject of a number of other research reports. The Goldman Sachs Group lifted their target price on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Raymond James Financial reissued an “outperform” rating and set a $45.00 price objective (up previously from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Tudor, Pickering, Holt & Co. raised Par Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, November 6th. UBS Group lifted their price target on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.14.

Par Pacific Trading Down 1.0%

Shares of NYSE PARR opened at $38.56 on Tuesday. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70. Par Pacific has a one year low of $11.86 and a one year high of $48.40. The business has a 50-day moving average price of $41.06 and a two-hundred day moving average price of $34.49. The firm has a market capitalization of $1.94 billion, a PE ratio of 8.12 and a beta of 1.25.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the firm earned ($0.10) earnings per share. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, analysts predict that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 99,284 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 423,022 shares in the company, valued at $18,253,399.30. This represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Creamer sold 15,848 shares of Par Pacific stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the transaction, the executive vice president owned 54,654 shares in the company, valued at $2,252,837.88. The trade was a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Par Pacific by 30.9% in the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock worth $178,680,000 after acquiring an additional 1,190,088 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Par Pacific by 6.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company’s stock valued at $62,601,000 after purchasing an additional 109,705 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock worth $62,203,000 after purchasing an additional 317,484 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Par Pacific by 42.8% during the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after purchasing an additional 456,473 shares during the period. Finally, Encompass Capital Advisors LLC bought a new stake in shares of Par Pacific in the second quarter valued at about $34,609,000. 92.15% of the stock is owned by institutional investors.

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.