Par Pacific (NYSE:PARR) Shares Gap Up - Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $14.23, but opened at $15.17. Par Pacific shares last traded at $14.47, with a volume of 202,577 shares trading hands.

Analyst Ratings Changes

PARR has been the topic of several analyst reports. Raymond James assumed coverage on Par Pacific in a report on Friday, January 24th. They issued an "outperform" rating and a $25.00 target price on the stock. Mizuho cut Par Pacific from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. TD Cowen reduced their target price on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Piper Sandler decreased their target price on Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group raised Par Pacific from a "neutral" rating to a "buy" rating and boosted their price target for the company from $18.00 to $19.00 in a report on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.71.

Par Pacific Stock Down 3.7 %

The business has a 50 day moving average price of $15.37 and a 200 day moving average price of $16.55. 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 has a market cap of $780.38 million, a PE ratio of 2.76 and a beta of 2.01.

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

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in shares of Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company's stock worth $27,000 after buying an additional 1,167 shares during the period. Sterling Capital Management LLC increased its stake in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock worth $28,000 after purchasing an additional 1,528 shares in the last quarter. US Bancorp DE increased its stake in shares of Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company's stock valued at $42,000 after buying an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company's stock worth $53,000 after buying an additional 1,784 shares during the last quarter. Hedge funds and other 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.