Par Pacific (NYSE:PARR) Reaches New 1-Year Low at $17.93

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.93 and last traded at $17.98, with a volume of 22459 shares traded. The stock had previously closed at $18.23.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. decreased their price objective on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. TD Cowen decreased their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.00.

Par Pacific Stock Performance

The stock’s 50 day moving average price is $21.98 and its 200 day moving average price is $27.20. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The company has a market cap of $989.72 million, a price-to-earnings ratio of 2.20 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. Par Pacific’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 earnings per share. On average, analysts expect that Par Pacific Holdings, Inc. will post 1.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its position in Par Pacific by 17.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock valued at $252,000 after buying an additional 1,024 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Par Pacific by 55.1% during the 4th quarter. Franklin Resources Inc. now owns 33,992 shares of the company’s stock valued at $1,236,000 after acquiring an additional 12,071 shares in the last quarter. US Bancorp DE boosted its position in Par Pacific by 1,652.4% during the 4th quarter. US Bancorp DE now owns 16,841 shares of the company’s stock worth $613,000 after purchasing an additional 15,880 shares during the period. Hsbc Holdings PLC increased its holdings in Par Pacific by 14.9% in the 4th quarter. Hsbc Holdings PLC now owns 297,548 shares of the company’s stock valued at $10,863,000 after purchasing an additional 38,572 shares in the last quarter. Finally, TD Asset Management Inc increased its holdings in Par Pacific by 46.4% in the 4th quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock valued at $3,797,000 after purchasing an additional 33,100 shares in the last quarter. Institutional investors and hedge funds 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.