Par Pacific (NYSE:PARR) Shares Down 3.9% – What’s Next?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) fell 3.9% on Tuesday . The stock traded as low as $17.50 and last traded at $17.51. 163,578 shares were traded during trading, a decline of 77% from the average session volume of 723,524 shares. The stock had previously closed at $18.22.

Wall Street Analysts Forecast Growth

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

Par Pacific Stock Performance

The company has a market cap of $966.85 million, a PE ratio of 3.35 and a beta of 2.00. The company has a 50-day moving average of $16.66 and a 200-day moving average of $19.50. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

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

Insider Buying and Selling

In other news, Director William Pate sold 67,700 shares of the stock in a transaction dated 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 directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in Par Pacific in the third quarter worth $61,870,000. State Street Corp boosted its stake in shares of Par Pacific by 10.5% during the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after purchasing an additional 328,325 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after purchasing an additional 17,509 shares during the period. Millennium Management LLC boosted its holdings in shares of Par Pacific by 48.4% during the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after buying an additional 636,908 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after purchasing an additional 175,331 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.