Par Pacific (NYSE:PARR) Stock Price Up 4.9%

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price shot up 4.9% during mid-day trading on Wednesday . The company traded as high as $18.51 and last traded at $18.39. 154,487 shares were traded during trading, a decline of 83% from the average session volume of 891,113 shares. The stock had previously closed at $17.53.

Analyst Ratings Changes

Several equities research analysts recently commented on PARR shares. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Tudor Pickering raised shares of Par Pacific to a “hold” rating in a report on Monday, September 9th. TD Cowen dropped their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $36.00 to $30.00 in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Par Pacific currently has an average rating of “Hold” and an average target price of $29.00.

Par Pacific Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. The company has a market capitalization of $1.03 billion, a PE ratio of 2.19 and a beta of 1.99. The stock has a fifty day moving average of $21.62 and a 200 day moving average of $26.66.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.73 EPS. Par Pacific’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 1.7 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

Hedge funds have recently modified their holdings of the company. Quarry LP increased its position in Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares during the last quarter. Algert Global LLC increased its holdings in shares of Par Pacific by 15.4% in the 2nd quarter. Algert Global LLC now owns 185,577 shares of the company’s stock worth $4,686,000 after buying an additional 24,792 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after buying an additional 636,908 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Par Pacific by 210.9% during the 2nd quarter. AQR Capital Management LLC now owns 85,987 shares of the company’s stock valued at $2,171,000 after buying an additional 58,328 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Par Pacific in the 2nd quarter valued at about $1,932,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.