Par Pacific (NYSE:PARR) Shares Gap Up – Time to Buy?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) gapped up prior to trading on Thursday . The stock had previously closed at $14.23, but opened at $15.17. Par Pacific shares last traded at $14.47, with a volume of 202,577 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently commented on PARR shares. StockNews.com downgraded Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. TD Cowen lowered their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price on the stock. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $19.00 in a research report on Thursday. Finally, Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $22.71.

Par Pacific Stock Performance

The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $797.40 million, a P/E ratio of 2.83 and a beta of 2.01. The company’s 50-day moving average is $15.51 and its two-hundred day moving average is $16.61.

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

Institutional Trading of Par Pacific

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE boosted its stake in Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after buying an additional 652 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Par Pacific by 37.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares in the last quarter. Martingale Asset Management L P raised its position in Par Pacific by 1.9% during the third quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock valued at $849,000 after buying an additional 921 shares during the period. Inspire Investing LLC lifted its stake in Par Pacific by 4.6% in the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after acquiring an additional 1,066 shares in the last quarter. Finally, Mariner LLC boosted its position in Par Pacific by 7.7% during the 4th quarter. Mariner LLC now owns 15,136 shares of the company’s stock worth $248,000 after acquiring an additional 1,086 shares during the period. 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.