Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) traded down 7.2% on Wednesday . The company traded as low as $16.20 and last traded at $16.06. 396,673 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 830,418 shares. The stock had previously closed at $17.30.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Raymond James assumed coverage on shares of Par Pacific in a research note on Friday, January 24th. They issued an "outperform" rating and a $25.00 target price for the company. StockNews.com raised shares of Par Pacific from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Friday, January 31st. Finally, Mizuho lowered shares of Par Pacific from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $25.29.
View Our Latest Report on Par Pacific
Par Pacific Stock Up 1.4 %
The firm's 50-day simple moving average is $16.79 and its 200 day simple moving average is $18.26. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock has a market capitalization of $883.00 million, a P/E ratio of 3.06 and a beta of 1.99.
Insider Activity at Par Pacific
In related news, Director William Pate sold 67,700 shares of the firm's stock in a transaction dated 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 completion of the sale, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Par Pacific
Several hedge funds have recently bought and sold shares of PARR. Creative Planning lifted its stake in Par Pacific by 246.2% in the 3rd quarter. Creative Planning now owns 33,014 shares of the company's stock valued at $581,000 after purchasing an additional 23,478 shares during the last quarter. Private Advisor Group LLC lifted its position in Par Pacific by 60.4% during the third quarter. Private Advisor Group LLC now owns 21,213 shares of the company's stock worth $373,000 after acquiring an additional 7,987 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Par Pacific by 2.6% during the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company's stock worth $565,000 after acquiring an additional 810 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Par Pacific by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company's stock worth $929,000 after acquiring an additional 1,226 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in Par Pacific by 160.2% during the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company's stock worth $9,033,000 after acquiring an additional 315,967 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.
About Par Pacific
(
Get Free Report)
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.
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