Par Pacific (PARR) Downgraded to “Strong Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Par Pacific (NYSEAMERICAN:PARR) from a hold rating to a strong sell rating in a research report report published on Friday morning.

According to Zacks, “Par Pacific Holdings, Inc. manages and maintains interests in energy and infrastructure businesses. The company’s operating segment consists of refining, retail and logistics. It also markets and distributes crude oil from the Western United States and Canada to refining hubs in the Midwest, Gulf Coast, East Coast and to Hawaii. Par Pacific Holdings, Inc., formerly known as Par Petroleum Corporation, is headquartered in Houston, Texas. “

Other equities analysts have also recently issued research reports about the stock. Mizuho reissued a buy rating and issued a $23.00 target price on shares of Par Pacific in a report on Friday, October 27th. BidaskClub cut shares of Par Pacific from a strong-buy rating to a buy rating in a report on Tuesday, November 7th. Cowen reissued a buy rating and issued a $20.00 target price on shares of Par Pacific in a report on Tuesday, October 17th. Seaport Global Securities raised shares of Par Pacific from a neutral rating to a buy rating in a report on Monday, September 11th. Finally, ValuEngine raised shares of Par Pacific from a hold rating to a buy rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Par Pacific presently has an average rating of Buy and a consensus target price of $21.33.

Shares of Par Pacific (PARR) opened at $19.28 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.35 and a current ratio of 1.09. The firm has a market capitalization of $894.06, a PE ratio of 12.68 and a beta of 0.38. Par Pacific has a 52 week low of $12.96 and a 52 week high of $21.94.

Par Pacific (NYSEAMERICAN:PARR) last issued its quarterly earnings results on Monday, November 6th. The oil and gas company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.48 by $0.07. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. The business had revenue of $610.51 million for the quarter, compared to analysts’ expectations of $655.80 million. sell-side analysts predict that Par Pacific will post 1.33 EPS for the current fiscal year.

In related news, major shareholder Whitebox Advisors Llc sold 506,079 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $20.75, for a total transaction of $10,501,139.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last ninety days, insiders have sold 1,156,845 shares of company stock worth $24,020,944. Corporate insiders own 2.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Par Pacific in the third quarter worth approximately $254,000. Jane Street Group LLC acquired a new position in Par Pacific in the third quarter worth approximately $272,000. Highbridge Capital Management LLC acquired a new position in Par Pacific in the third quarter worth approximately $461,000. Cornerstone Capital Management Holdings LLC. acquired a new position in Par Pacific in the third quarter worth approximately $706,000. Finally, Sterling Capital Management LLC acquired a new position in Par Pacific in the third quarter worth approximately $910,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.

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Par Pacific Company Profile

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.

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