Par Pacific (NYSE:PARR) Downgraded to "Sell" Rating by Wall Street Zen

Par Pacific (NYSE:PARR - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

Several other research analysts have also recently issued reports on the stock. Mizuho lifted their target price on shares of Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. UBS Group decreased their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. TD Cowen decreased their price objective on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group cut shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a report on Wednesday, May 28th. Finally, Piper Sandler boosted their price objective on shares of Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.25.

Par Pacific Stock Up 0.3%

NYSE PARR traded up $0.07 during trading hours on Friday, reaching $21.50. 679,611 shares of the company's stock traded hands, compared to its average volume of 1,153,424. Par Pacific has a 52-week low of $11.86 and a 52-week high of $27.45. The firm has a market cap of $1.11 billion, a PE ratio of 4.17 and a beta of 1.50. The firm has a 50-day simple moving average of $16.89 and a 200 day simple moving average of $16.29. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.49 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company's revenue was down 11.9% on a year-over-year basis. During the same period last year, the business earned $0.69 earnings per share. Sell-side analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Institutional Trading of Par Pacific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC increased its holdings in Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock valued at $3,862,000 after buying an additional 211,002 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Par Pacific by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company's stock worth $2,085,000 after purchasing an additional 6,618 shares during the period. Empowered Funds LLC boosted its position in shares of Par Pacific by 3.7% in the first quarter. Empowered Funds LLC now owns 325,394 shares of the company's stock worth $4,640,000 after purchasing an additional 11,626 shares during the period. Petrus Trust Company LTA bought a new position in shares of Par Pacific in the first quarter worth approximately $792,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Par Pacific by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company's stock worth $461,000 after purchasing an additional 1,427 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Par Pacific

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.

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