Par Pacific (NYSE:PARR) Trading 4.8% Higher - What's Next?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) shot up 4.8% on Thursday . The stock traded as high as $12.96 and last traded at $13.00. 556,441 shares were traded during mid-day trading, a decline of 40% from the average session volume of 933,495 shares. The stock had previously closed at $12.40.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PARR shares. TD Cowen lowered their price target on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Mizuho cut Par Pacific from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $26.00 to $22.00 in a research report on Monday, December 16th. StockNews.com lowered Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Raymond James started coverage on Par Pacific in a research report on Friday, January 24th. They set an "outperform" rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.57.

Remove Ads

Par Pacific Stock Up 1.5 %

The stock has a market capitalization of $732.36 million, a PE ratio of 2.59 and a beta of 2.01. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company's 50-day moving average is $16.33 and its 200 day moving average is $17.29.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data 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 return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Pate sold 67,700 shares of the stock in a transaction 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 sale, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. purchased a new position in Par Pacific during the third quarter valued at approximately $61,870,000. Solas Capital Management LLC increased its holdings in shares of Par Pacific by 417.7% during the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock valued at $13,030,000 after purchasing an additional 641,423 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after purchasing an additional 586,003 shares during the period. Bridgewater Associates LP acquired a new position in shares of Par Pacific in the 4th quarter valued at $9,293,000. Finally, State Street Corp boosted its holdings in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company's stock worth $60,919,000 after buying an additional 328,325 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other 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.