Par Pacific (NYSE:PARR) Stock Price Up 4.9%

Par Pacific Holdings, Inc. (NYSE:PARR) rose 4.9% on Wednesday . The stock traded as high as $18.51 and last traded at $18.39. Approximately 154,487 shares were traded during trading, a decline of 83% from the average daily volume of 891,113 shares. The stock had previously closed at $17.53.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of analyst reports. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. TD Cowen reduced their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. The Goldman Sachs Group reduced their price objective on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $36.00 to $30.00 in a research note on Wednesday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.00.

Par Pacific Stock Up 1.8 %

The company has a market cap of $1.03 billion, a P/E ratio of 2.19 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. The business’s fifty day moving average is $21.62 and its two-hundred day moving average is $26.66.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. Equities analysts predict that Par Pacific Holdings, Inc. will post 1.7 EPS for the current year.

Institutional Trading of Par Pacific

A number of hedge funds have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC raised its holdings in shares of Par Pacific by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock valued at $721,000 after purchasing an additional 563 shares in the last quarter. Range Financial Group LLC lifted its holdings in Par Pacific by 9.8% during the first quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock worth $253,000 after buying an additional 608 shares during the period. Simplicity Wealth LLC boosted its position in Par Pacific by 5.1% during the 2nd quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock valued at $352,000 after acquiring an additional 677 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Par Pacific by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock worth $1,108,000 after acquiring an additional 703 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of Par Pacific by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock worth $413,000 after acquiring an additional 768 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other 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.