Par Pacific (PARR) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Par Pacific (NYSEAMERICAN:PARR) from a buy rating to a hold rating in a research note published on Wednesday.
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. “
Separately, Cowen downgraded shares of Par Pacific from an outperform rating to a market perform rating and set a $22.00 price target on the stock. in a report on Wednesday, September 12th.
Par Pacific (NYSEAMERICAN:PARR) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by ($0.15). The company had revenue of $909.78 million for the quarter, compared to the consensus estimate of $744.50 million.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Par Pacific by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 207,949 shares of the oil and gas company’s stock worth $3,570,000 after purchasing an additional 5,569 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Par Pacific in the 2nd quarter worth approximately $104,000. Victory Capital Management Inc. lifted its stake in shares of Par Pacific by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 22,757 shares of the oil and gas company’s stock worth $396,000 after purchasing an additional 3,121 shares during the period. Hoylecohen LLC bought a new position in shares of Par Pacific in the 2nd quarter worth approximately $198,000. Finally, Strs Ohio lifted its stake in shares of Par Pacific by 8.9% in the 2nd quarter. Strs Ohio now owns 46,600 shares of the oil and gas company’s stock worth $809,000 after purchasing an additional 3,800 shares during the period. 83.57% of the stock is currently owned by hedge funds and other institutional investors.
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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