Par Pacific (NYSE:PARR) Trading 5.7% Higher – Still a Buy?

Par Pacific Holdings, Inc. (NYSE:PARR) shot up 5.7% during mid-day trading on Friday . The company traded as high as $18.15 and last traded at $17.90. 98,742 shares were traded during trading, a decline of 85% from the average session volume of 645,786 shares. The stock had previously closed at $16.93.

Analyst Upgrades and Downgrades

Several research firms have commented on PARR. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and cut their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. The Goldman Sachs Group lowered their price target on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Finally, Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $23.00 in a research report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.50.

Par Pacific Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The company has a market cap of $978.04 million, a price-to-earnings ratio of 3.39 and a beta of 2.00. The business has a fifty day moving average price of $16.57 and a 200 day moving average price of $19.67.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.15 EPS. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current year.

Insider Buying and Selling

In other Par Pacific 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. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PARR. Headlands Technologies LLC boosted its holdings in shares of Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares during the period. GAMMA Investing LLC boosted its stake in Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after purchasing an additional 1,167 shares during the period. Meeder Asset Management Inc. purchased a new position in Par Pacific during the 2nd quarter valued at about $43,000. Quarry LP increased its position in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares during the period. Finally, Quest Partners LLC lifted its holdings in shares of Par Pacific by 141.3% in the second quarter. Quest Partners LLC now owns 5,930 shares of the company’s stock worth $150,000 after buying an additional 3,472 shares in the last quarter. 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.