Par Pacific (NYSE:PARR) Stock Price Up 3.9% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price shot up 3.9% on Wednesday . The stock traded as high as $14.38 and last traded at $14.44. 61,606 shares changed hands during trading, a decline of 95% from the average session volume of 1,288,939 shares. The stock had previously closed at $13.89.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PARR shares. The Goldman Sachs Group decreased their price objective on Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, February 27th. Piper Sandler reduced their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, March 7th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Finally, Raymond James initiated coverage on Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Par Pacific currently has a consensus rating of “Hold” and an average price target of $22.57.

Par Pacific Stock Performance

The company has a market capitalization of $778.08 million, a price-to-earnings ratio of 2.75 and a beta of 2.01. 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 stock’s 50 day moving average price is $15.60 and its 200 day moving average price is $16.63.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Institutional Trading of Par Pacific

A number of hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in Par Pacific during the 3rd quarter valued at $315,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Par Pacific by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 741,626 shares of the company’s stock worth $13,053,000 after buying an additional 13,457 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Par Pacific during the 3rd quarter worth about $385,000. Truvestments Capital LLC grew its stake in Par Pacific by 25.6% in the 3rd quarter. Truvestments Capital LLC now owns 16,950 shares of the company’s stock valued at $298,000 after buying an additional 3,452 shares during the last quarter. Finally, FMR LLC raised its holdings in Par Pacific by 126.7% in the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

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.