Par Pacific (NYSE:PARR) Stock Price Up 4.8% – Here’s What Happened

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) traded up 4.8% on Thursday . The company traded as high as $12.96 and last traded at $13.00. 556,441 shares traded hands during trading, a decline of 40% from the average session volume of 933,495 shares. The stock had previously closed at $12.40.

Analyst Ratings Changes

PARR has been the subject of a number of analyst reports. TD Cowen decreased their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group dropped their target price on Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. Raymond James initiated coverage on Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target for the company. Finally, JPMorgan Chase & Co. decreased their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Par Pacific presently has an average rating of “Hold” and a consensus price target of $22.86.

Par Pacific Trading Up 4.2 %

The company has a market cap of $707.34 million, a price-to-earnings ratio of 2.50 and a beta of 2.01. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average is $16.46 and its 200 day moving average is $17.45.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Research analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Transactions at Par Pacific

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after purchasing an additional 1,167 shares in the last quarter. Sterling Capital Management LLC increased its holdings in Par Pacific by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after buying an additional 1,528 shares during the last quarter. US Bancorp DE raised its stake in Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the period. Nisa Investment Advisors LLC lifted its stake in Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Par Pacific by 123.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after acquiring an additional 1,784 shares in the last quarter. 92.15% of the stock is currently 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.