Par Pacific (NYSE:PARR) Shares Gap Down to $19.69

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) gapped down prior to trading on Friday . The stock had previously closed at $19.69, but opened at $19.16. Par Pacific shares last traded at $18.58, with a volume of 164,724 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PARR shares. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. UBS Group decreased their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $37.00 to $23.00 in a research note on Friday. Finally, TD Cowen decreased their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Par Pacific presently has an average rating of “Hold” and an average price target of $30.00.

Par Pacific Price Performance

The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $1.10 billion, a PE ratio of 2.32 and a beta of 1.99. The firm has a 50 day moving average price of $22.66 and a 200 day moving average price of $27.85.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.13 by $0.36. The firm had revenue of $2.02 billion during 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 was up 13.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.73 EPS. Research analysts anticipate that Par Pacific Holdings, Inc. will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC increased its stake in Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after buying an additional 458 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Par Pacific by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock valued at $721,000 after purchasing an additional 563 shares during the last quarter. Range Financial Group LLC boosted its holdings in shares of Par Pacific by 9.8% during the 1st quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after purchasing an additional 608 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in shares of Par Pacific by 5.1% during the 2nd quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock valued at $352,000 after purchasing an additional 677 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its holdings in shares of Par Pacific by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock valued at $1,108,000 after purchasing an additional 703 shares during the last quarter. Hedge funds and other institutional investors 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.