Par Pacific (NYSE:PARR) Shares Up 3.9% - Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) was up 3.9% during trading on Wednesday . The company traded as high as $14.38 and last traded at $14.44. Approximately 61,606 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 1,288,939 shares. The stock had previously closed at $13.89.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PARR. Raymond James started coverage on shares of Par Pacific in a report on Friday, January 24th. They set an "outperform" rating and a $25.00 target price for the company. Piper Sandler dropped their price objective on shares of Par Pacific from $25.00 to $21.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. JPMorgan Chase & Co. reduced their target price on Par Pacific from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. Mizuho cut Par Pacific from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $26.00 to $22.00 in a report on Monday, December 16th. Finally, TD Cowen cut their price target on Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $22.71.

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Par Pacific Price Performance

The company has a fifty day simple moving average of $15.37 and a two-hundred day simple moving average of $16.57. 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 $780.38 million, a price-to-earnings ratio of 2.76 and a beta of 2.01.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, February 25th. 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 business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in Par Pacific during the fourth quarter worth approximately $286,000. GTS Securities LLC acquired a new stake in shares of Par Pacific during the 4th quarter worth $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Par Pacific by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company's stock worth $2,288,000 after buying an additional 11,891 shares during the period. iSAM Funds UK Ltd raised its position in shares of Par Pacific by 63.5% in the 4th quarter. iSAM Funds UK Ltd now owns 19,697 shares of the company's stock worth $323,000 after buying an additional 7,651 shares during the period. Finally, Two Sigma Investments LP acquired a new position in Par Pacific in the fourth quarter valued at $544,000. 92.15% of the stock is owned by institutional investors and hedge funds.

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.