Par Pacific (NYSE:PARR) Trading 4.8% Higher – Time to Buy?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price traded up 4.8% during mid-day trading on Thursday . The company traded as high as $12.96 and last traded at $13.00. 556,441 shares changed hands 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. TD Cowen lowered their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Finally, Raymond James assumed coverage on shares of Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.86.

Par Pacific Stock Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $707.34 million, a price-to-earnings ratio of 2.50 and a beta of 2.01. The stock has a 50-day moving average of $16.46 and a 200 day moving average of $17.45.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. On average, analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other Par Pacific news, Director William Pate sold 67,700 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds have recently added to or reduced their stakes in PARR. Pacer Advisors Inc. bought a new stake in Par Pacific during the third quarter worth $61,870,000. Solas Capital Management LLC boosted its stake in Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock valued at $13,030,000 after buying an additional 641,423 shares during the period. Millennium Management LLC increased its holdings 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 worth $31,744,000 after buying an additional 586,003 shares during the last quarter. Bridgewater Associates LP purchased a new position in shares of Par Pacific in the 4th quarter worth about $9,293,000. Finally, State Street Corp lifted its holdings 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 during the last quarter. 92.15% of the stock is currently 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.