Par Pacific (NYSE:PARR) Stock Price Down 3.9% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) shares fell 3.9% during mid-day trading on Tuesday . The stock traded as low as $17.50 and last traded at $17.51. 163,578 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 723,524 shares. The stock had previously closed at $18.22.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PARR shares. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. lowered their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Par Pacific has an average rating of “Hold” and an average price target of $25.83.

Par Pacific Stock Performance

The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average is $16.75 and its two-hundred day moving average is $19.44. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of 3.46 and a beta of 2.00.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business earned $3.15 EPS. Par Pacific’s revenue for the quarter was down 16.9% compared to the same quarter last year. On average, analysts predict that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC lifted its position in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock worth $565,000 after purchasing an additional 810 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after purchasing an additional 921 shares during the last quarter. Simplicity Wealth LLC boosted its stake in Par Pacific by 6.6% in the 3rd quarter. Simplicity Wealth LLC now owns 14,872 shares of the company’s stock valued at $262,000 after purchasing an additional 923 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Par Pacific by 232.5% in the 4th 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 in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

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.