Par Pacific (NYSE:PARR) Shares Up 5.7% - What's Next?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s share price shot up 5.7% during trading on Friday . The company traded as high as $18.15 and last traded at $17.90. 98,742 shares traded hands during trading, a decline of 85% from the average session volume of 645,786 shares. The stock had previously closed at $16.93.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised Par Pacific from a "neutral" rating to an "overweight" rating and dropped their target price for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price target on Par Pacific from $26.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, December 19th. Mizuho cut shares of Par Pacific from an "outperform" rating to a "neutral" rating and lowered their price objective for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Piper Sandler lowered Par Pacific from an "overweight" rating to a "neutral" rating and cut their price target for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Finally, StockNews.com raised shares of Par Pacific from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $26.50.

Par Pacific Price Performance

The firm has a market capitalization of $972.45 million, a PE ratio of 3.37 and a beta of 2.00. The business's 50 day moving average is $16.57 and its two-hundred day moving average is $19.67. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

Par Pacific (NYSE:PARR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. During the same period last year, the firm posted $3.15 earnings per share. Par Pacific's quarterly revenue was down 16.9% on a year-over-year basis. Equities research analysts anticipate that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Par Pacific

In related news, Director William Pate sold 67,700 shares of Par Pacific 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. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PARR. Headlands Technologies LLC increased its stake in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock worth $29,000 after acquiring an additional 796 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in 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 period. Martingale Asset Management L P raised its stake in Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company's stock valued at $849,000 after buying an additional 921 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in Par Pacific by 6.6% in the third quarter. Simplicity Wealth LLC now owns 14,872 shares of the company's stock valued at $262,000 after acquiring an additional 923 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company's stock worth $27,000 after buying an additional 1,167 shares during the last quarter. Hedge funds and other institutional investors 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.