Par Pacific (NYSE:PARR) Reaches New 1-Year Low at $21.56

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $21.56 and last traded at $21.58, with a volume of 9943 shares traded. The stock had previously closed at $21.80.

Analysts Set New Price Targets

Several brokerages have issued reports on PARR. TD Cowen lowered their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Piper Sandler lowered their price target on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Mizuho began coverage on Par Pacific in a report on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price target for the company. Finally, The Goldman Sachs Group lowered their price target on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $33.17.

Par Pacific Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 2.70 and a beta of 2.00. The firm has a 50-day moving average price of $24.04 and a two-hundred day moving average price of $29.82.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. Par Pacific’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 earnings per share. As a group, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC boosted its position in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the last quarter. Quadrant Capital Group LLC boosted its position in Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after purchasing an additional 458 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Par Pacific during the second quarter valued at approximately $43,000. Quarry LP boosted its position in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.