Par Pacific (NYSE:PARR) Trading Up 4.7%

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) traded up 4.7% during 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.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday. Piper Sandler lowered 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 report on Friday, June 14th. Finally, TD Cowen lowered their price target on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.20.

Par Pacific Stock Performance

The stock’s 50-day moving average is $27.19 and its 200-day moving average is $33.13. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 3.23 and a beta of 2.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.28 and a quick ratio of 0.50.

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

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc boosted its holdings in shares of Par Pacific by 46.4% in the 4th quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock valued at $3,797,000 after purchasing an additional 33,100 shares during the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Par Pacific by 18.7% in the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock valued at $31,612,000 after purchasing an additional 134,600 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Par Pacific by 14.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after acquiring an additional 154,571 shares in the last quarter. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in shares of Par Pacific during the 4th quarter valued at $1,637,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Par Pacific by 5,017.3% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,454 shares of the company’s stock valued at $1,418,000 after acquiring an additional 38,683 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.