Par Pacific (NYSE:PARR) Stock Price Up 6.7% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) traded up 6.7% during mid-day trading on Tuesday . The company traded as high as $60.27 and last traded at $61.0360. 173,564 shares were traded during trading, a decline of 87% from the average session volume of 1,306,698 shares. The stock had previously closed at $57.20.

Wall Street Analysts Forecast Growth

PARR has been the topic of several analyst reports. Piper Sandler set a $57.00 target price on shares of Par Pacific in a report on Monday, January 12th. Mizuho boosted their price target on shares of Par Pacific from $49.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, March 17th. The Goldman Sachs Group raised their price objective on shares of Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, March 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Finally, Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 14th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $55.50.

Par Pacific Stock Down 0.8%

The firm’s 50-day simple moving average is $44.47 and its 200 day simple moving average is $40.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The company has a market cap of $3.03 billion, a P/E ratio of 8.40 and a beta of 1.17.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the firm posted ($0.79) EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its holdings in Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after purchasing an additional 4,525 shares during the last quarter. AQR Capital Management LLC grew its holdings in Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after buying an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after buying an additional 1,427 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after buying an additional 6,618 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after buying an additional 211,002 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.