Par Pacific (NYSE:PARR) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Par Pacific from a "strong-buy" to a "hold" rating, indicating a shift in analyst sentiment regarding the stock's potential.
• Despite the downgrade, Wall Street Zen recently upgraded Par Pacific from "buy" to "strong-buy," with a consensus rating of "Moderate Buy" and a price target of $33.86.
• Par Pacific reported earnings of $1.54 EPS for the recent quarter, significantly exceeding analysts' expectations of $0.74, although revenue decreased by 6.2% year-over-year.

Par Pacific (NYSE:PARR - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Monday,Zacks.com reports.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. TD Cowen lowered their price target on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Cowen reissued a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. Piper Sandler upped their target price on Par Pacific from $39.00 to $44.00 and gave the company an "overweight" rating in a research note on Thursday, September 11th. Finally, The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Wednesday, May 28th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $33.86.

Par Pacific Stock Performance

NYSE PARR opened at $37.13 on Monday. The business has a 50 day moving average price of $32.18 and a 200 day moving average price of $24.02. The company has a market capitalization of $1.89 billion, a P/E ratio of -132.61 and a beta of 1.82. Par Pacific has a 1-year low of $11.86 and a 1-year high of $38.60. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.80. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.Par Pacific's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. Sell-side analysts expect that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Activity at Par Pacific

In other news, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the sale, the insider owned 39,089 shares in the company, valued at $1,348,570.50. This trade represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the transaction, the insider owned 24,679 shares of the company's stock, valued at $852,659.45. The trade was a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,954 shares of company stock worth $863,048. Company insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PARR. Bank of America Corp DE grew its holdings in Par Pacific by 51.3% in the fourth quarter. Bank of America Corp DE now owns 303,442 shares of the company's stock valued at $4,973,000 after purchasing an additional 102,858 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Par Pacific by 40.5% in the 4th quarter. ProShare Advisors LLC now owns 16,420 shares of the company's stock valued at $269,000 after purchasing an additional 4,733 shares during the last quarter. Two Sigma Investments LP purchased a new stake in shares of Par Pacific during the 4th quarter valued at $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Par Pacific by 9.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company's stock worth $2,288,000 after buying an additional 11,891 shares during the last quarter. Finally, GTS Securities LLC acquired a new stake in shares of Par Pacific during the 4th quarter worth $276,000. 92.15% of the stock is currently 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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