Par Pacific (NYSE:PARR) Stock Price Down 5.3% Following Weak Earnings

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price fell 5.3% during trading on Wednesday after the company announced weaker than expected quarterly earnings. The company traded as low as $15.30 and last traded at $14.61. 212,373 shares were traded during mid-day trading, a decline of 78% from the average session volume of 954,614 shares. The stock had previously closed at $15.43.

The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James started coverage on Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group cut their price target on Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Par Pacific has an average rating of “Hold” and a consensus target price of $25.29.

Insider Transactions at Par Pacific

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after buying an additional 1,528 shares during the period. US Bancorp DE boosted its position in Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after acquiring an additional 1,784 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Price Performance

The company has a 50-day moving average of $16.72 and a two-hundred day moving average of $17.83. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $818.86 million, a PE ratio of 2.85 and a beta of 1.99.

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.