Par Pacific Holdings, Inc. (NYSE:PARR – Get Free Report) shares were down 2.1% on Monday after UBS Group lowered their price target on the stock from $40.00 to $29.00. UBS Group currently has a neutral rating on the stock. Par Pacific traded as low as $23.40 and last traded at $23.42. Approximately 30,521 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 827,861 shares. The stock had previously closed at $23.93.
A number of other brokerages have also recently commented on PARR. Mizuho started coverage on Par Pacific in a research note on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. decreased their price target on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. The Goldman Sachs Group decreased their price target on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler reduced their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Finally, TD Cowen reduced their target price on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $33.17.
Institutional Investors Weigh In On Par Pacific
Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Par Pacific by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after purchasing an additional 17,509 shares in the last quarter. Millennium Management LLC boosted its position in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after purchasing an additional 636,908 shares in the last quarter. American Century Companies Inc. boosted its holdings in Par Pacific by 13.9% in the second quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after acquiring an additional 175,331 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Par Pacific by 28.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock worth $44,635,000 after acquiring an additional 268,219 shares in the last quarter. Finally, Hennessy Advisors Inc. boosted its holdings in Par Pacific by 18.7% in the first quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after acquiring an additional 134,600 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.
Par Pacific Stock Down 3.9 %
The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $24.49 and a 200 day simple moving average of $30.65. The firm has a market capitalization of $1.30 billion, a P/E ratio of 2.91 and a beta of 2.00.
Par Pacific (NYSE:PARR – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities analysts expect that Par Pacific Holdings, Inc. will post 1.71 EPS for the current fiscal year.
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.