Par Pacific (NYSE:PARR) Stock Rating Lowered by Mizuho

Mizuho downgraded shares of Par Pacific (NYSE:PARR) from an outperform rating to a neutral rating in a research note published on Monday, Marketbeat Ratings reports. The brokerage currently has $22.00 price objective on the stock, down from their prior price objective of $26.00.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. UBS Group dropped their target price 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. Finally, The Goldman Sachs Group dropped their target price on Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Par Pacific currently has an average rating of “Hold” and an average price target of $27.33.

Par Pacific Price Performance

Shares of NYSE PARR opened at $15.39 on Monday. The stock has a fifty day simple moving average of $16.92 and a two-hundred day simple moving average of $20.71. Par Pacific has a 1-year low of $14.84 and a 1-year high of $40.69. The firm has a market cap of $861.07 million, a price-to-earnings ratio of 2.98 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.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 earnings per share. Analysts anticipate that Par Pacific will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Par Pacific

A number of large investors have recently added to or reduced their stakes in PARR. Headlands Technologies LLC raised its position in Par Pacific by 215.1% during 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 in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Par Pacific during the second quarter valued at about $43,000. Quarry LP grew its stake in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Par Pacific during the second quarter valued at about $104,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.