Par Pacific (NYSE:PARR) Shares Down 5% – Here’s Why

Par Pacific Holdings, Inc. (NYSE:PARRGet Free Report)’s stock price traded down 5% during mid-day trading on Thursday . The stock traded as low as $66.25 and last traded at $65.1170. 405,719 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 1,245,696 shares. The stock had previously closed at $68.57.

Analysts Set New Price Targets

A number of equities analysts recently commented on PARR shares. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $53.00 to $77.00 in a report on Friday, April 10th. UBS Group upped their price objective on Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday. Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Guggenheim upgraded Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. boosted their target price on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.86.

Read Our Latest Research Report on PARR

Par Pacific Stock Up 0.3%

The firm has a market cap of $3.29 billion, a P/E ratio of 7.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. The firm’s fifty day moving average is $58.16 and its 200 day moving average is $51.48.

Par Pacific (NYSE:PARRGet Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.22). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.94) earnings per share. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 16.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its holdings in Par Pacific by 32.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after purchasing an additional 173 shares during the last quarter. Natixis Advisors LLC grew its holdings in Par Pacific by 2.8% in the 4th quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock valued at $390,000 after buying an additional 299 shares in the last quarter. GAMMA Investing LLC increased its position in Par Pacific by 2.5% during the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock worth $555,000 after buying an additional 382 shares during the period. Birchbrook Inc. increased its position in Par Pacific by 12.8% during the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after buying an additional 385 shares during the period. Finally, Amundi lifted its holdings in shares of Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company’s stock worth $388,000 after buying an additional 386 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

(Get Free Report)

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.

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