Par Pacific (NYSE:PARR) Trading Up 4.8% – Here’s Why

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price traded up 4.8% during trading on Thursday . The stock traded as high as $12.96 and last traded at $13.00. 556,441 shares were traded during mid-day trading, a decline of 40% from the average session volume of 933,495 shares. The stock had previously closed at $12.40.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Piper Sandler lowered their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen decreased their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. 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 research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.57.

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 firm’s 50-day moving average is $16.39 and its two-hundred day moving average is $17.42. The stock has a market cap of $723.93 million, a price-to-earnings ratio of 2.56 and a beta of 2.01.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share 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 company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Trading of Par Pacific

Several hedge funds have recently made changes to their positions in PARR. State of Alaska Department of Revenue grew its stake in shares of Par Pacific by 2.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after buying an additional 810 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Par Pacific by 2.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock valued at $929,000 after buying an additional 1,226 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $925,000. MQS Management LLC purchased a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $185,000. Finally, Quest Partners LLC grew its stake in shares of Par Pacific by 908.1% in the 3rd quarter. Quest Partners LLC now owns 59,780 shares of the company’s stock valued at $1,052,000 after buying an additional 53,850 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.