Par Pacific (NYSE:PARR) Reaches New 52-Week Low – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $16.62 and last traded at $16.62, with a volume of 189684 shares traded. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. UBS Group decreased their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. TD Cowen reduced their price objective 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. Finally, Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their price target for the company from $37.00 to $23.00 in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $28.00.

Par Pacific Stock Performance

The company has a market cap of $928.88 million, a P/E ratio of 2.15 and a beta of 1.98. The stock has a fifty day moving average price of $19.77 and a two-hundred day moving average price of $24.70. 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 released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share 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 business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm posted $1.73 earnings per share. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Several large investors have recently made changes to their positions in PARR. Dimensional Fund Advisors LP increased its position in shares of Par Pacific by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after purchasing an additional 17,509 shares in the last quarter. Millennium Management LLC boosted its stake in Par Pacific by 48.4% during the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after acquiring an additional 636,908 shares during the last quarter. American Century Companies Inc. grew its position in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after purchasing an additional 175,331 shares during the period. Hennessy Advisors Inc. boosted its stake in Par Pacific by 18.7% in the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after purchasing an additional 134,600 shares during the period. Finally, Bridgeway Capital Management LLC grew its stake in shares of Par Pacific by 2.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company’s stock worth $24,010,000 after acquiring an additional 16,653 shares in the last quarter. Institutional investors and hedge funds 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.