Par Pacific (NYSE:PARR) Shares Down 7.2% – Here’s Why

Par Pacific Holdings, Inc. (NYSE:PARR) was down 7.2% during mid-day trading on Wednesday . The stock traded as low as $16.20 and last traded at $16.06. Approximately 396,673 shares changed hands during trading, a decline of 52% from the average daily volume of 830,418 shares. The stock had previously closed at $17.30.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PARR. Raymond James assumed coverage on Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $26.00 to $22.00 in a research note on Monday, December 16th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.29.

Par Pacific Stock Performance

The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock’s 50 day moving average is $16.82 and its 200 day moving average is $18.47. The stock has a market capitalization of $891.84 million, a price-to-earnings ratio of 3.09 and a beta of 1.99.

Insider Buying and Selling

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

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its holdings in shares of Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after buying an additional 1,167 shares during the last quarter. US Bancorp DE increased its stake in Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares during the period. Allworth Financial LP raised its holdings in shares of Par Pacific by 4,804.2% in the 4th quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock worth $139,000 after purchasing an additional 7,975 shares during the period. Finally, FMR LLC lifted its stake in shares of Par Pacific by 126.7% in the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after purchasing an additional 4,826 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.