Par Pacific (NYSE:PARR) Sets New 12-Month Low at $23.92

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) reached a new 52-week low during trading on Friday . The company traded as low as $23.92 and last traded at $23.95, with a volume of 454634 shares. The stock had previously closed at $24.58.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PARR. StockNews.com cut shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Piper Sandler dropped their target price on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, TD Cowen dropped their target price on shares of Par Pacific from $45.00 to $42.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.75.

Par Pacific Trading Down 3.1 %

The company has a market cap of $1.38 billion, a price-to-earnings ratio of 2.98 and a beta of 1.99. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average price is $28.35 and its 200 day moving average price is $33.60.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. As a group, equities analysts expect that Par Pacific Holdings, Inc. will post 3.69 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Several large investors have recently bought and sold shares of PARR. Janney Montgomery Scott LLC raised its stake in shares of Par Pacific by 4.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,297 shares of the company’s stock worth $298,000 after purchasing an additional 388 shares during the period. HighTower Advisors LLC raised its stake in shares of Par Pacific by 153.4% during the 3rd quarter. HighTower Advisors LLC now owns 20,433 shares of the company’s stock worth $727,000 after purchasing an additional 12,369 shares during the period. Rhumbline Advisers raised its stake in shares of Par Pacific by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 185,175 shares of the company’s stock worth $6,655,000 after purchasing an additional 2,817 shares during the period. Hsbc Holdings PLC raised its stake in shares of Par Pacific by 12.1% during the 3rd quarter. Hsbc Holdings PLC now owns 258,976 shares of the company’s stock worth $9,355,000 after purchasing an additional 28,023 shares during the period. Finally, Dark Forest Capital Management LP bought a new stake in shares of Par Pacific during the 3rd quarter worth $881,000. 92.15% of the stock is currently owned by institutional investors.

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.