Par Pacific (NYSE:PARR) Trading Down 2.2% - Here's Why

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) were down 2.2% during trading on Monday . The stock traded as low as $13.35 and last traded at $13.35. Approximately 127,695 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,052,460 shares. The stock had previously closed at $13.65.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PARR. The Goldman Sachs Group raised shares of Par Pacific from a "neutral" rating to a "buy" rating and increased their target price for the company from $18.00 to $19.00 in a research report on Thursday, March 27th. Piper Sandler cut their price target on shares of Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. UBS Group dropped their price objective on Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a research note on Wednesday. StockNews.com downgraded Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Finally, Raymond James assumed coverage on Par Pacific in a report on Friday, January 24th. They set an "outperform" rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $20.68.

Par Pacific Price 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 business's 50 day simple moving average is $14.07 and its two-hundred day simple moving average is $16.00. The stock has a market capitalization of $716.02 million, a P/E ratio of 2.55 and a beta of 1.64.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. As a group, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PARR. Solas Capital Management LLC grew its position in Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock valued at $13,030,000 after buying an additional 641,423 shares during the period. Millennium Management LLC grew its position in shares of Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after acquiring an additional 586,003 shares during the period. Bridgewater Associates LP purchased a new stake in shares of Par Pacific during the 4th quarter worth approximately $9,293,000. State Street Corp lifted its stake in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company's stock valued at $60,919,000 after purchasing an additional 328,325 shares during the last quarter. Finally, Barclays PLC grew its holdings in Par Pacific by 53.0% during the fourth quarter. Barclays PLC now owns 718,688 shares of the company's stock valued at $11,779,000 after purchasing an additional 249,048 shares during the period. Institutional investors own 92.15% of the company's stock.

About Par Pacific

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.