Par Pacific (NYSE:PARR) Shares Down 5% – Time to Sell?

Par Pacific Holdings, Inc. (NYSE:PARR) dropped 5% during trading on Thursday . The stock traded as low as $66.25 and last traded at $65.1170. 405,719 shares changed hands during trading, a decline of 67% from the average daily volume of 1,245,696 shares. The stock had previously closed at $68.57.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PARR shares. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Mizuho lifted their price objective on shares of Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a report on Wednesday, June 24th. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.86.

Par Pacific Stock Performance

The company has a market cap of $3.31 billion, a P/E ratio of 7.37 and a beta of 0.82. The stock has a 50 day moving average price of $58.11 and a two-hundred day moving average price of $51.18. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.94) earnings per share. On average, research analysts predict that Par Pacific Holdings, Inc. will post 16.31 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Par Pacific by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock valued at $62,363,000 after purchasing an additional 7,280 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Par Pacific by 0.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock valued at $110,985,000 after buying an additional 6,162 shares during the period. Geode Capital Management LLC grew its position in Par Pacific by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company’s stock worth $42,954,000 after buying an additional 21,254 shares in the last quarter. Renaissance Technologies LLC grew its position in Par Pacific by 13.1% during the fourth quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company’s stock worth $35,455,000 after buying an additional 117,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Par Pacific by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock worth $33,302,000 after acquiring an additional 255,173 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.