Par Pacific (NYSE:PARR) Sets New 12-Month Low - Here's What Happened

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $16.15 and last traded at $16.43, with a volume of 114833 shares trading hands. The stock had previously closed at $17.10.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PARR. The Goldman Sachs Group cut their target price on shares of Par Pacific from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Par Pacific from a "neutral" rating to an "overweight" rating and cut their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. TD Cowen cut their target price on shares of Par Pacific from $36.00 to $32.00 and set a "buy" rating on the stock in a research note on Friday, August 9th. Tudor Pickering raised shares of Par Pacific to a "hold" rating in a research note on Monday, September 9th. Finally, Mizuho lowered their price target on shares of Par Pacific from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $28.00.

Par Pacific Stock Performance

The stock's fifty day moving average is $19.13 and its two-hundred day moving average is $24.01. The firm has a market capitalization of $890.03 million, a price-to-earnings ratio of 2.00 and a beta of 1.98. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm's revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business earned $1.73 EPS. Analysts forecast that Par Pacific Holdings, Inc. will post 0.76 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC boosted its holdings in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock valued at $29,000 after buying an additional 796 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Par Pacific in the 2nd quarter valued at about $43,000. Quarry LP boosted its holdings in shares of Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company's stock valued at $60,000 after buying an additional 2,027 shares during the period. nVerses Capital LLC boosted its holdings in shares of Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company's stock valued at $86,000 after buying an additional 1,000 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Par Pacific in the 2nd quarter valued at about $104,000. 92.15% of the stock is owned by institutional investors and hedge funds.

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.