Par Pacific (NYSE:PARR) Trading Down 7.8% – Should You Sell?

Par Pacific Holdings, Inc. (NYSE:PARRGet Free Report) shares were down 7.8% on Wednesday . The stock traded as low as $75.62 and last traded at $76.52. 378,468 shares were traded during mid-day trading, a decline of 69% from the average session volume of 1,212,251 shares. The stock had previously closed at $83.00.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PARR. Raymond James Financial boosted their price objective on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Guggenheim upgraded Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. UBS Group lifted their price objective on shares of Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.86.

Get Our Latest Stock Report on Par Pacific

Par Pacific Stock Performance

The stock has a market capitalization of $3.34 billion, a P/E ratio of 3.89 and a beta of 0.78. The stock has a 50 day moving average of $64.59 and a 200 day moving average of $57.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62.

Par Pacific (NYSE:PARRGet Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. Par Pacific had a return on equity of 61.03% and a net margin of 9.94%.The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same period last year, the business posted $1.54 earnings per share. The firm’s quarterly revenue was up 56.8% compared to the same quarter last year. Equities analysts predict that Par Pacific Holdings, Inc. will post 18.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PARR. NewEdge Advisors LLC acquired a new stake in shares of Par Pacific in the first quarter valued at approximately $26,000. EverSource Wealth Advisors LLC boosted its position in shares of Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after buying an additional 173 shares during the period. Smartleaf Asset Management LLC grew its holdings in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after buying an additional 478 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after acquiring an additional 1,558 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

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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