Par Pacific (NYSE:PARR) Sets New 52-Week Low – Should You Sell?

Par Pacific Holdings, Inc. (NYSE:PARR) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.15 and last traded at $16.43, with a volume of 114833 shares traded. The stock had previously closed at $17.10.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PARR shares. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Mizuho decreased their price objective on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. The Goldman Sachs Group cut their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. TD Cowen decreased their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. Six research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Par Pacific Price Performance

The company’s fifty day moving average price is $18.88 and its two-hundred day moving average price is $23.82. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. The company has a market cap of $884.40 million, a price-to-earnings ratio of 1.96 and a beta of 1.98.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping 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 firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the business earned $1.73 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Par Pacific during the 1st quarter worth approximately $341,000. Janney Montgomery Scott LLC lifted its position in shares of Par Pacific by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 50,149 shares of the company’s stock worth $1,859,000 after purchasing an additional 2,589 shares in the last quarter. Capstone Investment Advisors LLC acquired a new position in Par Pacific during the first quarter worth $424,000. Daiwa Securities Group Inc. acquired a new position in Par Pacific during the first quarter worth $296,000. Finally, GSA Capital Partners LLP grew its position in Par Pacific by 11.1% in the first quarter. GSA Capital Partners LLP now owns 15,938 shares of the company’s stock valued at $591,000 after purchasing an additional 1,594 shares in the last quarter. 92.15% of the stock is currently 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.