Par Pacific (NYSE:PARR) Shares Up 3.9% – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARR) shares shot up 3.9% during mid-day trading on Wednesday . The stock traded as high as $14.38 and last traded at $14.44. 61,606 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,288,939 shares. The stock had previously closed at $13.89.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PARR. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com downgraded Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Piper Sandler decreased their target price on Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Raymond James started coverage on Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.71.

Par Pacific Stock Up 4.2 %

The firm has a market cap of $811.58 million, a price-to-earnings ratio of 2.87 and a beta of 2.01. The stock has a 50-day moving average of $15.45 and a 200-day moving average of $16.60. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

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