Par Pacific (NYSE:PARR) Shares Down 6.9% – Time to Sell?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price fell 6.9% during mid-day trading on Tuesday . The stock traded as low as $17.37 and last traded at $17.41. 245,362 shares traded hands during trading, a decline of 73% from the average session volume of 894,126 shares. The stock had previously closed at $18.70.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PARR. The Goldman Sachs Group cut their target price on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Mizuho cut their target price on Par Pacific from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, September 16th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. UBS Group cut their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Finally, JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific presently has an average rating of “Hold” and an average target price of $29.00.

Par Pacific Stock Performance

The company has a market capitalization of $991.97 million, a P/E ratio of 2.34 and a beta of 1.98. The business has a 50 day moving average of $21.14 and a 200 day moving average of $26.10. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.36. The business 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%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. On average, sell-side analysts predict that Par Pacific Holdings, Inc. will post 1.34 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Institutional investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC boosted its holdings in 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 acquiring an additional 563 shares during the period. Range Financial Group LLC boosted its holdings in 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 acquiring an additional 608 shares during the period. Simplicity Wealth LLC boosted its holdings in 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 acquiring an additional 677 shares during the period. Linden Thomas Advisory Services LLC boosted its holdings in 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 acquiring an additional 703 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in Par Pacific by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock valued at $413,000 after acquiring an additional 768 shares during the period. 92.15% of the stock is owned by 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.