Par Pacific (NYSE:PARR) Reaches New 52-Week Low at $18.31

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $18.31 and last traded at $18.71, with a volume of 22565 shares traded. The stock had previously closed at $18.69.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. TD Cowen decreased their price target 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. 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. UBS Group decreased their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday. Finally, The Goldman Sachs Group cut their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Par Pacific has an average rating of “Hold” and a consensus price target of $33.17.

Par Pacific Stock Down 4.7 %

The stock has a market cap of $1.06 billion, a PE ratio of 2.29 and a beta of 1.99. The firm has a fifty day moving average of $23.19 and a 200 day moving average of $28.51. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.13 by $0.36. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. Par Pacific’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. On average, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Several large investors have recently bought and sold shares of the stock. Quarry LP boosted its stake in Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after acquiring an additional 2,027 shares in the last quarter. Algert Global LLC boosted its stake in Par Pacific by 15.4% in the second quarter. Algert Global LLC now owns 185,577 shares of the company’s stock valued at $4,686,000 after acquiring an additional 24,792 shares in the last quarter. Millennium Management LLC boosted its stake in Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after acquiring an additional 636,908 shares in the last quarter. AQR Capital Management LLC boosted its stake in Par Pacific by 210.9% in the second quarter. AQR Capital Management LLC now owns 85,987 shares of the company’s stock valued at $2,171,000 after acquiring an additional 58,328 shares in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in Par Pacific in the second quarter valued at $1,932,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.