Par Pacific (NYSE:PARR) Sets New 12-Month High - Should You Buy?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.70 and last traded at $31.42, with a volume of 43301 shares trading hands. The stock had previously closed at $31.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PARR shares. Raymond James Financial raised their price objective on Par Pacific from $25.00 to $30.00 and gave the company an "outperform" rating in a research note on Monday, June 30th. Piper Sandler raised their price objective on Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered 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. Wall Street Zen lowered Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, Mizuho raised their price target on Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $21.96.

Par Pacific Price Performance

The company has a current ratio of 1.56, a quick ratio of 0.54 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average of $22.45 and a 200-day moving average of $17.79.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PARR. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Par Pacific in the 1st quarter valued at $194,000. GAMMA Investing LLC increased its holdings in shares of Par Pacific by 352.7% in the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after acquiring an additional 5,887 shares during the period. First Citizens Bank & Trust Co. purchased a new position in shares of Par Pacific in the 1st quarter valued at $219,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Par Pacific by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock valued at $14,902,000 after acquiring an additional 167,594 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Par Pacific in the 4th quarter valued at $286,000. 92.15% of the stock is currently 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.