Par Pacific (NYSE:PARR) Stock Price Down 3.9% - Here's What Happened

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Mizuho downgraded Par Pacific from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $26.00 to $22.00 in a research note on Monday, December 16th. StockNews.com raised shares of Par Pacific from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Piper Sandler downgraded shares of Par Pacific from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $37.00 to $23.00 in a research note on Friday, September 20th. The Goldman Sachs Group cut their price objective on shares of Par Pacific from $26.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. raised Par Pacific from a "neutral" rating to an "overweight" rating and decreased their target price for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Par Pacific presently has an average rating of "Hold" and a consensus target price of $26.50.

Par Pacific Trading Down 1.3 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market cap of $1.01 billion, a P/E ratio of 3.48 and a beta of 2.00. The firm's fifty day moving average price is $16.72 and its two-hundred day moving average price is $19.45.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the company posted $3.15 EPS. The company's revenue for the quarter was down 16.9% on a year-over-year basis. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 1.12 EPS for the current year.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new position in shares of Par Pacific in the second quarter worth about $275,000. Rhumbline Advisers lifted its stake in shares of Par Pacific by 3.6% during the 2nd quarter. Rhumbline Advisers now owns 177,643 shares of the company's stock valued at $4,485,000 after buying an additional 6,102 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Par Pacific by 131.1% in the 2nd quarter. Victory Capital Management Inc. now owns 86,880 shares of the company's stock worth $2,194,000 after buying an additional 49,286 shares during the period. Quest Partners LLC increased its stake in Par Pacific by 141.3% in the 2nd quarter. Quest Partners LLC now owns 5,930 shares of the company's stock worth $150,000 after buying an additional 3,472 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock valued at $29,000 after acquiring an additional 796 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.