Par Pacific (NYSE:PARR) Stock Price Up 5.7% – Still a Buy?

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price shot up 5.7% on Friday . The stock traded as high as $18.15 and last traded at $17.90. 98,742 shares traded hands during trading, a decline of 85% from the average session volume of 645,786 shares. The stock had previously closed at $16.93.

Analyst Ratings Changes

A number of research analysts have issued reports on PARR shares. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.50.

Par Pacific Trading Up 2.7 %

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 firm has a market capitalization of $972.45 million, a price-to-earnings ratio of 3.37 and a beta of 2.00. The firm’s 50 day moving average is $16.61 and its 200 day moving average is $19.59.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s revenue was down 16.9% compared to the same quarter last year. During the same period last year, the company posted $3.15 EPS. Equities analysts forecast that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in shares of Par Pacific in the third quarter valued at $61,870,000. State Street Corp raised its position in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the period. Dimensional Fund Advisors LP lifted its stake in Par Pacific by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after acquiring an additional 17,509 shares in the last quarter. Millennium Management LLC grew 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 valued at $49,307,000 after acquiring an additional 636,908 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings 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. 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.