Par Pacific (NYSE:PARR) Shares Down 5.3% Following Weak Earnings

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price traded down 5.3% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $15.30 and last traded at $14.61. 212,373 shares traded hands during trading, a decline of 78% from the average session volume of 954,614 shares. The stock had previously closed at $15.43.

The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, Raymond James initiated coverage on shares of Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.29.

Insider Transactions at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company’s 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 completion of the sale, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new stake in shares of Par Pacific in the 4th quarter worth approximately $286,000. GTS Securities LLC bought a new stake in shares of Par Pacific in the 4th quarter worth approximately $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Par Pacific by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company’s stock worth $2,288,000 after purchasing an additional 11,891 shares in the last quarter. iSAM Funds UK Ltd raised its holdings in shares of Par Pacific by 63.5% in the 4th quarter. iSAM Funds UK Ltd now owns 19,697 shares of the company’s stock worth $323,000 after purchasing an additional 7,651 shares in the last quarter. Finally, Two Sigma Investments LP bought a new stake in shares of Par Pacific in the 4th quarter worth approximately $544,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Price Performance

The firm has a market capitalization of $779.97 million, a P/E ratio of 2.70 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The business’s fifty day moving average is $16.69 and its 200 day moving average is $17.81.

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.