Par Pacific (NYSE:PARR) Reaches New 1-Year Low at $21.56

Par Pacific Holdings, Inc. (NYSE:PARR) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.56 and last traded at $21.58, with a volume of 9943 shares trading hands. The stock had previously closed at $21.80.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group dropped their price target on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. TD Cowen cut 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 note on Friday, August 9th. Piper Sandler decreased their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Mizuho initiated coverage on shares of Par Pacific in a research report on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.17.

Par Pacific Trading Down 1.5 %

The firm has a market capitalization of $1.24 billion, a P/E ratio of 2.73 and a beta of 2.00. 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 firm has a 50 day moving average of $24.16 and a 200-day moving average of $30.00.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. Par Pacific’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC increased its holdings in Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares in the last quarter. Headlands Technologies LLC increased its stake 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 valued at $29,000 after buying an additional 796 shares during the period. Meeder Asset Management Inc. acquired a new stake in Par Pacific during the 2nd quarter worth approximately $43,000. Quarry LP grew its holdings in Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after acquiring an additional 2,027 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in shares of Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.