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

Par Pacific (NYSE:PARR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings raised shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Mizuho boosted their price target on shares of Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. UBS Group upped their price objective on Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Finally, Raymond James Financial increased their price objective on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and a consensus target price of $80.86.

Par Pacific Stock Down 3.8%

Shares of NYSE:PARR opened at $66.32 on Thursday. The firm has a market capitalization of $3.33 billion, a PE ratio of 3.87 and a beta of 0.78. Par Pacific has a 1 year low of $26.92 and a 1 year high of $87.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.60. The firm’s 50-day moving average is $64.79 and its two-hundred day moving average is $57.20.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, beating the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter last year, the firm posted $1.54 earnings per share. The business’s revenue for the quarter was up 56.8% compared to the same quarter last year. Analysts predict that Par Pacific will post 18.6 EPS for the current year.

Institutional Trading of Par Pacific

Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after acquiring an additional 4,525 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after purchasing an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Par Pacific by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.