Par Pacific (NYSE:PARR) Hits New 12-Month Low at $21.22

Par Pacific Holdings, Inc. (NYSE:PARR) shares hit a new 52-week low on Wednesday . The company traded as low as $21.22 and last traded at $21.42, with a volume of 802219 shares traded. The stock had previously closed at $21.68.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PARR. Mizuho assumed coverage on Par Pacific in a research note on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 target price on the stock. TD Cowen reduced their target price 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. JPMorgan Chase & Co. lowered their price target on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. The Goldman Sachs Group reduced their price objective on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler cut their price target on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Par Pacific presently has a consensus rating of “Hold” and a consensus price target of $33.17.

Par Pacific Price Performance

The company’s 50-day moving average is $23.71 and its 200-day moving average is $29.13. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 2.56 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.73 EPS. On average, research analysts expect that Par Pacific Holdings, Inc. will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently added to or reduced their stakes in PARR. Headlands Technologies LLC raised its position in Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the period. Quadrant Capital Group LLC lifted its position in Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after acquiring an additional 458 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Par Pacific in the second quarter valued at approximately $43,000. Quarry LP raised its stake in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. 92.15% of the stock is currently 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.