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

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price 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.

Analysts Set New Price Targets

Several analysts have recently weighed in on PARR shares. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $22.00 in a research note on Monday, December 16th. 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 research report on Thursday, February 27th. Piper Sandler reduced their target price on Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. 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 note on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.71.

Par Pacific Stock Performance

The company has a market capitalization of $780.38 million, a price-to-earnings ratio of 2.76 and a beta of 2.01. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm has a 50-day simple moving average of $15.37 and a two-hundred day simple moving average of $16.57.

Par Pacific (NYSE:PARR) last announced its 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 business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after purchasing an additional 1,167 shares in the last quarter. Sterling Capital Management LLC increased its stake in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after buying an additional 1,528 shares during the period. US Bancorp DE raised its holdings in Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Par Pacific by 123.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after acquiring an additional 1,784 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

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.