Par Pacific (NYSE:PARR) Shares Down 5.3% After Earnings Miss

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price was down 5.3% on Wednesday following a weaker than expected earnings announcement. The stock traded as low as $15.30 and last traded at $14.61. Approximately 212,373 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 954,614 shares. The stock had previously closed at $15.43.

The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PARR shares. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $22.00 in a research note on Monday, December 16th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Raymond James started coverage on shares of Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective for the company. Finally, The Goldman Sachs Group dropped their price objective on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $25.29.

Insider Activity at Par Pacific

In related news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in shares of Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares during the last quarter. Sterling Capital Management LLC increased its position in Par Pacific by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after purchasing an additional 1,528 shares during the period. US Bancorp DE increased its position in Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Nisa Investment Advisors LLC increased its position in Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares during the period. Finally, Quadrant Capital Group LLC increased its position in Par Pacific by 123.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after purchasing an additional 1,784 shares during the period. 92.15% of the stock is owned by institutional investors.

Par Pacific Stock Performance

The stock has a 50-day moving average of $16.69 and a 200 day moving average of $17.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $779.97 million, a price-to-earnings ratio of 2.70 and a beta of 1.99.

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.