Par Pacific (NYSE:PARR) Stock Rating Upgraded by StockNews.com

Par Pacific (NYSE:PARR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities analysts also recently commented on the stock. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. UBS Group reduced their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Tudor Pickering raised Par Pacific to a “hold” rating in a research report on Monday, September 9th. Finally, Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $28.00.

Par Pacific Stock Up 3.3 %

Shares of NYSE PARR opened at $17.31 on Thursday. The firm has a market capitalization of $968.49 million, a price-to-earnings ratio of 3.35 and a beta of 1.99. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. 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 50 day moving average price of $17.80 and a 200 day moving average price of $22.72.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific’s revenue for the quarter was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.15 earnings per share. Sell-side analysts expect that Par Pacific will post 0.95 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC boosted its holdings in Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Par Pacific in the second quarter valued at $43,000. Quarry LP boosted its holdings 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 purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC boosted its stake in shares of Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Par Pacific during the 2nd quarter worth about $104,000. 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.