Par Pacific (PARR) Sees Unusually-High Trading Volume
Shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) saw an uptick in trading volume on Friday . 722,632 shares changed hands during mid-day trading, an increase of 148% from the previous session’s volume of 291,359 shares.The stock last traded at $18.93 and had previously closed at $18.74.
A number of brokerages recently issued reports on PARR. BidaskClub lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. Zacks Investment Research upgraded shares of Par Pacific from a “strong sell” rating to a “hold” rating in a research report on Wednesday, December 20th. Cowen reiterated a “buy” rating and issued a $20.00 target price on shares of Par Pacific in a research report on Tuesday, October 17th. Mizuho reiterated a “buy” rating and issued a $23.00 target price on shares of Par Pacific in a research report on Friday, October 27th. Finally, ValuEngine raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Par Pacific presently has an average rating of “Buy” and a consensus price target of $21.33.
The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.35 and a current ratio of 1.09. The firm has a market capitalization of $857.89, a P/E ratio of 12.45 and a beta of 0.38.
Par Pacific (NYSEAMERICAN:PARR) last posted its quarterly earnings data on Monday, November 6th. The oil and gas company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. Par Pacific had a net margin of 2.87% and a return on equity of 17.03%. The company had revenue of $610.51 million during the quarter, compared to analyst estimates of $655.80 million. equities research analysts predict that Par Pacific Holdings, Inc. will post 1.33 EPS for the current fiscal year.
In other news, major shareholder Whitebox Advisors Llc sold 38,405 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $20.53, for a total value of $788,454.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in PARR. Cornerstone Capital Management Holdings LLC. acquired a new position in Par Pacific in the third quarter worth approximately $706,000. Jane Street Group LLC acquired a new position in Par Pacific in the third quarter worth approximately $272,000. Highbridge Capital Management LLC acquired a new position in Par Pacific in the third quarter worth approximately $461,000. Cubist Systematic Strategies LLC acquired a new position in Par Pacific in the third quarter worth approximately $254,000. Finally, Sterling Capital Management LLC acquired a new position in Par Pacific in the third quarter worth approximately $910,000. Hedge funds and other institutional investors own 83.57% of the company’s stock.
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Par Pacific Company Profile
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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