Par Pacific (NYSE:PARR) Stock Price Down 5.3% on Disappointing Earnings

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) shares traded down 5.3% during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $15.30 and last traded at $14.61. 212,373 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 954,614 shares. The stock had previously closed at $15.43.

The company reported ($0.79) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.68 billion.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Mizuho lowered Par Pacific from an "outperform" rating to a "neutral" rating and reduced their price target for the company from $26.00 to $22.00 in a research report on Monday, December 16th. The Goldman Sachs Group cut their price target on shares of Par Pacific from $20.00 to $18.00 and set a "neutral" rating on the stock in a research report on Thursday. TD Cowen lowered their price objective on Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday. StockNews.com lowered Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They issued an "outperform" rating and a $25.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.86.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of the business's 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 sale, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.40% of the company's stock.

Institutional Investors Weigh In On Par Pacific

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in 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 during the period. Nisa Investment Advisors LLC raised its position in shares of Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company's stock worth $42,000 after buying an additional 700 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company's stock valued at $565,000 after acquiring an additional 810 shares during the last quarter. Martingale Asset Management L P lifted its position in Par Pacific by 1.9% during the third quarter. Martingale Asset Management L P now owns 48,221 shares of the company's stock valued at $849,000 after purchasing an additional 921 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Par Pacific by 4.6% in the fourth quarter. Inspire Investing LLC now owns 24,201 shares of the company's stock valued at $397,000 after acquiring an additional 1,066 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.

Par Pacific Stock Performance

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 company has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $17.72. The stock has a market cap of $805.26 million, a P/E ratio of 2.79 and a beta of 1.99.

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.