Par Pacific (NYSE:PARR) Hits New 12-Month High – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price hit a new 52-week high on Monday . The stock traded as high as $28.35 and last traded at $27.84, with a volume of 290576 shares. The stock had previously closed at $27.87.

Analysts Set New Price Targets

Several analysts have recently weighed in on PARR shares. Wall Street Zen lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, June 6th. TD Cowen lowered their target price on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler upped their price target on shares of Par Pacific from $21.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, May 8th. The Goldman Sachs Group cut shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Wednesday, May 28th. Finally, UBS Group dropped their price objective on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.25.

Par Pacific Stock Down 1.8%

The company has a current ratio of 1.56, a quick ratio of 0.54 and a debt-to-equity ratio of 1.04. The firm has a market cap of $1.41 billion, a P/E ratio of -24.25 and a beta of 1.68. The firm’s 50 day moving average is $19.20 and its two-hundred day moving average is $16.84.

Par Pacific (NYSE:PARR) last announced its earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business posted $0.69 earnings per share. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in PARR. Sterling Capital Management LLC grew its holdings in shares of Par Pacific by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after acquiring an additional 1,528 shares in the last quarter. US Bancorp DE grew its stake in Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Signaturefd LLC raised its stake in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after purchasing an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Par Pacific during the 1st quarter worth approximately $35,000. Finally, Quadrant Capital Group LLC boosted its holdings 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 valued at $53,000 after buying an additional 1,784 shares during the last quarter. 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.