Par Pacific (NYSE:PARR) Trading 4.7% Higher

Par Pacific Holdings, Inc. (NYSE:PARR) shares traded up 4.7% during mid-day trading on Tuesday . The stock traded as high as $26.72 and last traded at $26.49. 226,543 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 824,505 shares. The stock had previously closed at $25.30.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. TD Cowen lowered their target price on Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. JPMorgan Chase & Co. lowered their price objective on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, Piper Sandler decreased their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $36.20.

Par Pacific Stock Up 2.0 %

The business has a fifty day moving average of $27.47 and a 200 day moving average of $33.23. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.49 billion, a P/E ratio of 3.24 and a beta of 2.01.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.12 billion. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 2.92 EPS for the current year.

Institutional Trading of Par Pacific

A number of large investors have recently bought and sold shares of PARR. Hennessy Advisors Inc. bought a new position in shares of Par Pacific during the fourth quarter worth about $26,128,000. Goldman Sachs Group Inc. raised its holdings in shares of Par Pacific by 28.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock valued at $44,635,000 after purchasing an additional 268,219 shares during the last quarter. Thomist Capital Management LP lifted its position in shares of Par Pacific by 176.2% in the first quarter. Thomist Capital Management LP now owns 372,866 shares of the company’s stock worth $13,818,000 after purchasing an additional 237,844 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Par Pacific by 14.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock worth $44,676,000 after purchasing an additional 154,571 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Par Pacific by 61.3% during the 4th quarter. Allianz Asset Management GmbH now owns 357,255 shares of the company’s stock worth $12,993,000 after buying an additional 135,730 shares during 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.