Par Pacific (NYSE:PARR) Hits New 12-Month Low at $21.22

Shares of Par Pacific Holdings, Inc. (NYSE:PARR) reached a new 52-week low during mid-day 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

PARR has been the subject of several research analyst reports. Mizuho started coverage on Par Pacific in a research report on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price objective for the company. UBS Group dropped their price target on 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 reduced their price objective on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. JPMorgan Chase & Co. dropped their target price on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Piper Sandler reduced their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $33.17.

Par Pacific Trading Down 1.2 %

The company has a market capitalization of $1.21 billion, a P/E ratio of 2.71 and a beta of 2.00. The business has a fifty day moving average of $23.87 and a 200-day moving average of $29.25. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. Analysts anticipate that Par Pacific Holdings, Inc. will post 2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its position in shares of Par Pacific by 20.2% during the 4th quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after buying an additional 4,184 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Par Pacific by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock worth $23,473,000 after acquiring an additional 9,650 shares during the period. Counterpoint Mutual Funds LLC boosted its position in Par Pacific by 7.1% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 7,783 shares of the company’s stock worth $283,000 after purchasing an additional 518 shares during the last quarter. Versor Investments LP grew its stake in Par Pacific by 287.8% in the 4th quarter. Versor Investments LP now owns 25,929 shares of the company’s stock valued at $943,000 after purchasing an additional 19,242 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Par Pacific by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock valued at $77,589,000 after purchasing an additional 12,777 shares during 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.