Par Pacific (NYSE:PARR) Hits New 1-Year High - Here's Why

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $28.35 and last traded at $27.84, with a volume of 290576 shares trading hands. The stock had previously closed at $27.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PARR shares. TD Cowen dropped their price target on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Mizuho lifted their target price on shares of Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. UBS Group cut their price target on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research note on Wednesday, May 28th. Finally, Wall Street Zen downgraded shares of Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of "Hold" and a consensus target price of $21.25.

Par Pacific Trading Down 1.8%

The business's 50-day simple moving average is $19.20 and its 200-day simple moving average is $16.84. The company has a market cap of $1.41 billion, a PE ratio of -24.25 and a beta of 1.68. The company has a current ratio of 1.56, a quick ratio of 0.54 and a debt-to-equity ratio of 1.04.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The company's revenue was down 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.69 earnings per share. As a group, analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently made changes to their positions in PARR. US Bancorp DE raised its position in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock valued at $30,000 after purchasing an additional 652 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Par Pacific by 2.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company's stock valued at $471,000 after purchasing an additional 860 shares during the period. Linden Thomas Advisory Services LLC grew its position in Par Pacific by 2.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock worth $621,000 after purchasing an additional 960 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares during the period. Finally, Mariner LLC raised its position in shares of Par Pacific by 7.7% during the fourth quarter. Mariner LLC now owns 15,136 shares of the company's stock valued at $248,000 after buying an additional 1,086 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other 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.

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