Par Pacific (NYSE:PARR) Sets New 12-Month Low on Analyst Downgrade

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price hit a new 52-week low on Thursday after TD Cowen lowered their price target on the stock from $21.00 to $17.00. TD Cowen currently has a buy rating on the stock. Par Pacific traded as low as $13.46 and last traded at $13.50, with a volume of 119918 shares changing hands. The stock had previously closed at $13.94.

Several other research analysts have also recently commented on the stock. Raymond James began coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price for the company. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. decreased their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Monday, December 16th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.14.

Insider Activity

In related news, Director William Pate sold 67,700 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after acquiring an additional 1,167 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Par Pacific by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after acquiring an additional 1,528 shares in the last quarter. US Bancorp DE lifted its position in shares of Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after acquiring an additional 1,784 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Trading Down 3.2 %

The firm has a market cap of $755.30 million, a PE ratio of 2.63 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average is $16.69 and its 200 day moving average is $17.81.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

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.