Par Pacific (NYSE:PARR) Trading 4.9% Higher – Here’s Why

Par Pacific Holdings, Inc. (NYSE:PARR) shares rose 4.9% on Wednesday . The company traded as high as $18.51 and last traded at $18.39. Approximately 154,487 shares were traded during trading, a decline of 83% from the average daily volume of 891,113 shares. The stock had previously closed at $17.53.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of research analyst reports. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group reduced their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research report on Monday, September 9th. UBS Group reduced their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Finally, TD Cowen dropped their price objective on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.00.

Par Pacific Stock Up 6.7 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 2.42 and a beta of 1.99. The business’s 50 day moving average price is $21.40 and its 200 day moving average price is $26.55.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion for 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%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the business earned $1.73 earnings per share. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 1.34 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Hedge funds have recently bought and sold shares of the business. SummerHaven Investment Management LLC grew its position in shares of Par Pacific by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock valued at $721,000 after purchasing an additional 563 shares during the period. Range Financial Group LLC lifted its stake in shares of Par Pacific by 9.8% in the first quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock worth $253,000 after buying an additional 608 shares in the last quarter. Simplicity Wealth LLC boosted its position in Par Pacific by 5.1% during the second quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock worth $352,000 after acquiring an additional 677 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Par Pacific by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock valued at $1,108,000 after acquiring an additional 703 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Par Pacific by 7.4% in the first quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock valued at $413,000 after purchasing an additional 768 shares in the last quarter. Hedge funds and other institutional investors 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.