Par Pacific (NYSE:PARR) Hits New 12-Month Low – Here’s What Happened

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 $16.71 and last traded at $17.00, with a volume of 119202 shares changing hands. The stock had previously closed at $17.64.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PARR. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. 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 report on Friday, August 9th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research report on Monday, September 9th. The Goldman Sachs Group reduced their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $37.00 to $23.00 in a research report on Friday, September 20th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $28.00.

Par Pacific Stock Performance

The firm’s fifty day simple moving average is $20.15 and its 200 day simple moving average is $25.22. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 2.21 and a beta of 1.98. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the company posted $1.73 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 1.19 EPS for the current year.

Institutional Trading of Par Pacific

A number of hedge funds have recently made changes to their positions in PARR. Headlands Technologies LLC lifted its position 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 purchasing an additional 796 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Par Pacific in the second quarter worth approximately $43,000. Quarry LP lifted its position in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares in the last quarter. nVerses Capital LLC lifted its position in shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Par Pacific in the second quarter worth approximately $104,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Par Pacific

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.