Par Pacific (NYSE:PARR) Reaches New 12-Month Low at $18.31

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $18.31 and last traded at $18.71, with a volume of 22565 shares trading hands. The stock had previously closed at $18.69.

Analysts Set New Price Targets

Several equities analysts have recently commented on PARR shares. TD Cowen decreased their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday. JPMorgan Chase & Co. reduced their target price on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. 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, Piper Sandler decreased their price objective on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $33.17.

Par Pacific Stock Performance

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 company has a market cap of $1.10 billion, a price-to-earnings ratio of 2.34 and a beta of 1.99. The firm’s 50-day moving average price is $23.47 and its 200 day moving average price is $28.73.

Par Pacific (NYSE:PARR) last announced its 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. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the company posted $1.73 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 2.01 EPS for the current year.

Institutional Trading of Par Pacific

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of Par Pacific by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after buying an additional 17,509 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after purchasing an additional 636,908 shares during the last quarter. American Century Companies Inc. raised its position in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after acquiring an additional 175,331 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Par Pacific by 28.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock worth $44,635,000 after purchasing an additional 268,219 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its position in shares of Par Pacific by 18.7% during the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after buying an additional 134,600 shares during the period. 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.