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

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. “

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

Shares of Par Pacific (NYSEAMERICAN:PARR) traded down $0.25 during trading on Friday, hitting $19.28. 164,773 shares of the stock traded hands, compared to its average volume of 316,160. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.35 and a current ratio of 1.09. Par Pacific has a 1-year low of $12.96 and a 1-year high of $21.94. The firm has a market cap of $894.06, a price-to-earnings ratio of 12.68 and a beta of 0.38.

Par Pacific (NYSEAMERICAN:PARR) last issued its earnings results on Monday, November 6th. The oil and gas company reported $0.55 earnings per share for the quarter, beating 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 analyst estimates of $655.80 million. sell-side analysts predict that Par Pacific will post 1.33 earnings per share for the current year.

In other Par Pacific news, major shareholder Whitebox Advisors Llc sold 31,029 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $20.53, for a total value of $637,025.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 1,432,724 shares of company stock valued at $29,775,397. Insiders own 2.80% of the company’s stock.

Several large investors have recently modified their holdings of the company. GSA Capital Partners LLP grew its position in shares of Par Pacific by 31.1% during the 3rd quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock worth $1,555,000 after buying an additional 17,736 shares during the period. Sterling Capital Management LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth approximately $910,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth approximately $254,000. Highbridge Capital Management LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth approximately $461,000. Finally, Jane Street Group LLC acquired a new stake in shares of Par Pacific during the 3rd quarter worth approximately $272,000. Institutional investors own 83.57% of the company’s stock.

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About Par Pacific

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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