Par Pacific (NYSE:PARR) Stock Price Down 6.2% – Here’s Why

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) were down 6.2% during trading on Tuesday . The stock traded as low as $12.28 and last traded at $12.40. Approximately 804,959 shares were traded during trading, a decline of 13% from the average daily volume of 927,602 shares. The stock had previously closed at $13.21.

Analyst Ratings Changes

PARR has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, TD Cowen reduced their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Par Pacific has an average rating of “Hold” and an average target price of $22.86.

Par Pacific Trading Down 5.6 %

The business’s 50 day simple moving average is $16.61 and its 200-day simple moving average is $17.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $698.00 million, a P/E ratio of 2.42 and a beta of 1.99.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Transactions at Par Pacific

In other news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Several hedge funds have recently added to or reduced their stakes in PARR. GF Fund Management CO. LTD. acquired a new stake in shares of Par Pacific during the fourth quarter worth about $286,000. GTS Securities LLC bought a new stake in Par Pacific during the 4th quarter worth approximately $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Par Pacific by 9.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company’s stock worth $2,288,000 after buying an additional 11,891 shares during the period. iSAM Funds UK Ltd lifted its stake in Par Pacific by 63.5% in the fourth quarter. iSAM Funds UK Ltd now owns 19,697 shares of the company’s stock valued at $323,000 after buying an additional 7,651 shares in the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of Par Pacific in the fourth quarter valued at approximately $544,000. Institutional investors and hedge funds 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.