Par Pacific (NYSE:PARR) Stock Price Down 6.2% - Here's Why

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) was down 6.2% on Tuesday . The company traded as low as $12.28 and last traded at $12.40. Approximately 804,959 shares changed hands during trading, a decline of 13% from the average daily volume of 927,602 shares. The stock had previously closed at $13.21.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PARR shares. Mizuho cut Par Pacific from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $26.00 to $22.00 in a research note on Monday, December 16th. The Goldman Sachs Group cut their target price on shares of Par Pacific from $20.00 to $18.00 and set a "neutral" rating on the stock in a research note on Thursday, February 27th. 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 report on Thursday, February 27th. Raymond James initiated coverage on Par Pacific in a research report on Friday, January 24th. They issued an "outperform" rating and a $25.00 target price for the company. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of "Hold" and a consensus price target of $22.86.

Par Pacific Trading Up 3.9 %

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 company has a market capitalization of $705.26 million, a price-to-earnings ratio of 2.51 and a beta of 2.01. The business's 50 day moving average price is $16.46 and its two-hundred day moving average price is $17.45.

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

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on 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 transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Par Pacific

Several large investors have recently modified their holdings of PARR. GAMMA Investing LLC lifted its holdings in shares of Par Pacific by 232.5% during the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company's stock valued at $27,000 after purchasing an additional 1,167 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Par Pacific by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock worth $28,000 after buying an additional 1,528 shares during the period. US Bancorp DE increased its position in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after acquiring an additional 652 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company's stock valued at $42,000 after acquiring an additional 700 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in shares of Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company's stock valued at $53,000 after acquiring an additional 1,784 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

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.