Par Pacific (NYSE:PARR) Hits New 52-Week High – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARRGet Free Report)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $82.61 and last traded at $82.1510, with a volume of 47908 shares trading hands. The stock had previously closed at $79.09.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Mizuho upped their price objective on shares of Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Par Pacific has a consensus rating of “Moderate Buy” and an average target price of $81.57.

View Our Latest Stock Analysis on PARR

Par Pacific Stock Up 3.5%

The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $4.31 billion, a P/E ratio of 9.60 and a beta of 0.82. The company has a 50-day moving average of $62.52 and a two-hundred day moving average of $55.71.

Par Pacific (NYSE:PARRGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company posted ($0.94) EPS. Par Pacific’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts predict that Par Pacific Holdings, Inc. will post 18.6 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently bought and sold shares of the business. Birchbrook Inc. grew its holdings in Par Pacific by 12.8% in the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after purchasing an additional 385 shares during the period. GK Wealth Management LLC purchased a new position in shares of Par Pacific during the second quarter valued at approximately $317,000. Pacer Advisors Inc. purchased a new position in shares of Par Pacific during the first quarter valued at approximately $16,277,000. NewEdge Advisors LLC bought a new stake in shares of Par Pacific in the 1st quarter worth approximately $26,000. Finally, Systematic Alpha Investments LLC bought a new stake in shares of Par Pacific in the 1st quarter worth approximately $351,000. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

(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.

Further Reading

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