Par Pacific (NYSE:PARR) Reaches New 1-Year Low at $21.22

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $21.22 and last traded at $21.42, with a volume of 802219 shares changing hands. The stock had previously closed at $21.68.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. UBS Group cut their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. TD Cowen lowered their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a report on Friday, August 9th. The Goldman Sachs Group reduced their target price on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Mizuho assumed coverage on Par Pacific in a report on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $33.17.

Par Pacific Price Performance

The company has a market capitalization of $1.15 billion, a P/E ratio of 2.56 and a beta of 1.99. The business has a 50 day simple moving average of $23.71 and a 200-day simple moving average of $29.13. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.73 EPS. Analysts predict that Par Pacific Holdings, Inc. will post 2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Hennessy Advisors Inc. acquired a new stake in Par Pacific in the fourth quarter worth approximately $26,128,000. Millennium Management LLC lifted its holdings in shares of Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after buying an additional 636,908 shares during the period. Goldman Sachs Group Inc. boosted its stake in Par Pacific by 28.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock valued at $44,635,000 after buying an additional 268,219 shares in the last quarter. Thomist Capital Management LP grew its holdings in Par Pacific by 176.2% during the first quarter. Thomist Capital Management LP now owns 372,866 shares of the company’s stock worth $13,818,000 after acquiring an additional 237,844 shares during the period. Finally, American Century Companies Inc. raised its position in Par Pacific by 13.9% in the second quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after acquiring an additional 175,331 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

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.