Par Pacific (NYSE:PARR) Stock Price Down 5.2% – What’s Next?

Par Pacific Holdings, Inc. (NYSE:PARR) traded down 5.2% during trading on Wednesday . The stock traded as low as $43.47 and last traded at $43.8850. 396,422 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,392,318 shares. The stock had previously closed at $46.27.

Analyst Ratings Changes

A number of research analysts recently commented on PARR shares. Tudor, Pickering, Holt & Co. raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a report on Thursday, November 13th. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 target price (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. The Goldman Sachs Group raised their price objective on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Finally, Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.57.

Par Pacific Price Performance

The stock has a market cap of $2.22 billion, a P/E ratio of -157.31 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The business has a 50 day simple moving average of $37.68 and a 200-day simple moving average of $31.08.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business’s quarterly revenue was down 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) earnings per share. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Transactions at Par Pacific

In other Par Pacific news, Director Timothy Clossey sold 2,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $33.37, for a total value of $66,740.00. Following the transaction, the director owned 84,000 shares in the company, valued at approximately $2,803,080. The trade was a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn David Flores sold 8,062 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the completion of the sale, the insider owned 39,089 shares of the company’s stock, valued at approximately $1,348,570.50. This trade represents a 17.10% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 36,638 shares of company stock valued at $1,371,866. Insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Par Pacific by 16.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after buying an additional 259 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Par Pacific by 1.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $596,000 after purchasing an additional 266 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock worth $94,000 after buying an additional 293 shares during the period. Amundi lifted its position in shares of Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company’s stock worth $388,000 after purchasing an additional 386 shares during the last quarter. Finally, Ethic Inc. grew its holdings in shares of Par Pacific by 1.9% in the second quarter. Ethic Inc. now owns 21,801 shares of the company’s stock worth $580,000 after purchasing an additional 396 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.