Par Pacific (NYSE:PARR) Shares Up 5.7% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price was up 5.7% on Wednesday . The company traded as high as $12.91 and last traded at $12.93. Approximately 126,563 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,358,380 shares. The stock had previously closed at $12.23.

Analyst Ratings Changes

A number of research firms have recently issued reports on PARR. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their target price for the company from $18.00 to $19.00 in a research note on Thursday, March 27th. Piper Sandler reduced their target price on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Raymond James assumed coverage on Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price on the stock. UBS Group reduced their price objective on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, TD Cowen cut their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and an average price target of $20.68.

Par Pacific Trading Up 4.3 %

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 firm has a market capitalization of $692.98 million, a price-to-earnings ratio of 2.47 and a beta of 1.64. The firm’s 50-day moving average is $14.32 and its 200 day moving average is $16.08.

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

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently modified their holdings of the company. Solas Capital Management LLC lifted its holdings in Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock worth $13,030,000 after acquiring an additional 641,423 shares during the period. Millennium Management LLC lifted its holdings in shares of Par Pacific by 43.4% in the fourth 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 in the last quarter. Bridgewater Associates LP bought a new position in Par Pacific in the 4th quarter valued at $9,293,000. State Street Corp grew its position in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after buying an additional 328,325 shares in the last quarter. Finally, Barclays PLC grew its stake in Par Pacific by 53.0% in the 4th quarter. Barclays PLC now owns 718,688 shares of the company’s stock worth $11,779,000 after buying an additional 249,048 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.