Par Pacific (NYSE:PARR) Shares Down 5.7% – Should You Sell?

Par Pacific Holdings, Inc. (NYSE:PARR) dropped 5.7% on Wednesday . The company traded as low as $16.25 and last traded at $16.27. Approximately 132,755 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 903,129 shares. The stock had previously closed at $17.26.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PARR shares. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research report on Monday, September 9th. The Goldman Sachs Group cut 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. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Par Pacific has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Performance

The company has a 50 day simple moving average of $17.23 and a 200 day simple moving average of $21.38. 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 stock has a market cap of $908.91 million, a price-to-earnings ratio of 3.15 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.15 EPS. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.83 EPS for the current year.

Institutional Trading of Par Pacific

A number of hedge funds have recently made changes to their positions in the company. Headlands Technologies LLC raised its stake in shares of Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Par Pacific during the 2nd quarter worth $43,000. Quarry LP raised its position 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 purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC lifted its holdings in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares during the period. Finally, Innealta Capital LLC bought a new stake in shares of Par Pacific in the 2nd quarter valued at about $104,000. 92.15% of the stock is owned by institutional investors and hedge funds.

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.