Par Pacific (NYSE:PARR) Shares Gap Up – Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) 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 changing hands.

Analyst Ratings Changes

PARR has been the subject of a number of recent research reports. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $19.00 in a research report on Thursday. StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. TD Cowen cut their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $26.00 to $22.00 in a report on Monday, December 16th. Finally, 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. One equities research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.71.

Par Pacific Stock Down 3.7 %

The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The business has a 50-day simple moving average of $15.37 and a 200-day simple moving average of $16.57. The company has a market cap of $780.38 million, a PE ratio of 2.76 and a beta of 2.01.

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

Institutional Inflows and Outflows

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