Par Pacific (NYSE:PARR) Shares Down 2.2% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) shares fell 2.2% during trading on Monday . The stock traded as low as $13.35 and last traded at $13.35. 127,695 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,052,460 shares. The stock had previously closed at $13.65.

Analysts Set New Price Targets

PARR has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and upped their price objective for the company from $18.00 to $19.00 in a research report on Thursday, March 27th. TD Cowen decreased their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler dropped their price objective on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, Raymond James started coverage on shares of Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Par Pacific has a consensus rating of “Hold” and an average price target of $22.71.

Par Pacific Trading Down 3.4 %

The stock has a market capitalization of $664.98 million, a P/E ratio of 2.37 and a beta of 1.64. The stock’s fifty day moving average price is $14.32 and its 200 day moving average price is $16.08. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of Par Pacific by 232.5% during the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares during the period. Sterling Capital Management LLC grew its holdings in Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after acquiring an additional 1,528 shares in the last quarter. US Bancorp DE increased its position in Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares during the period. 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 valued at $42,000 after purchasing an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after purchasing an additional 1,784 shares during the period. 92.15% of the stock is owned by institutional investors.

About Par Pacific

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.