Par Pacific (NYSE:PARR) Stock Price Up 4.7% - Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s share price was up 4.7% during mid-day trading on Monday . The stock traded as high as $14.04 and last traded at $13.53. Approximately 886,274 shares were traded during trading, a decline of 14% from the average daily volume of 1,034,514 shares. The stock had previously closed at $12.92.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of research analyst reports. StockNews.com cut shares of Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and increased their price target for the company from $18.00 to $19.00 in a research note on Thursday, March 27th. Mizuho downgraded Par Pacific from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $26.00 to $22.00 in a report on Monday, December 16th. 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. Finally, Piper Sandler cut their price target on Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.71.

Par Pacific Trading Down 0.2 %

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 company has a market cap of $745.83 million, a price-to-earnings ratio of 2.64 and a beta of 1.64. The firm has a 50 day moving average price of $14.51 and a two-hundred day moving average price of $16.15.

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). The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently bought and sold shares of PARR. State Street Corp raised its position in shares of Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company's stock worth $60,919,000 after acquiring an additional 328,325 shares in the last quarter. Millennium Management LLC increased its holdings in Par Pacific by 43.4% in the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after purchasing an additional 586,003 shares in the last quarter. Geode Capital Management LLC lifted its stake in Par Pacific by 0.6% in the third quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company's stock valued at $22,591,000 after buying an additional 7,804 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Par Pacific by 9.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock worth $16,878,000 after buying an additional 91,814 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Par Pacific by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock worth $14,902,000 after buying an additional 167,594 shares during the period. Institutional investors and hedge funds 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.