Par Pacific (NYSE:PARR) Stock Price Up 5.7% – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) traded up 5.7% during trading on Friday . The stock traded as high as $18.15 and last traded at $17.90. 98,742 shares were traded during trading, a decline of 85% from the average session volume of 645,786 shares. The stock had previously closed at $16.93.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PARR. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $26.00 to $22.00 in a research report on Monday, December 16th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group lowered their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and cut their price objective for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Finally, Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.50.

Par Pacific Trading Up 3.2 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm’s 50 day moving average price is $16.57 and its 200 day moving average price is $19.67. The stock has a market capitalization of $978.04 million, a P/E ratio of 3.39 and a beta of 2.00.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business’s revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the business posted $3.15 EPS. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

A number of institutional investors and hedge funds have recently modified their holdings of PARR. Pacer Advisors Inc. bought a new stake in Par Pacific in the 3rd quarter worth approximately $61,870,000. State Street Corp increased its position in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after acquiring an additional 328,325 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Par Pacific by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after acquiring an additional 17,509 shares during the period. Millennium Management LLC boosted its position in Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after purchasing an additional 636,908 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Par Pacific by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after purchasing an additional 175,331 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

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.