Par Pacific (NYSE:PARR) Sets New 1-Year High - Here's What Happened

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $27.56 and last traded at $27.52, with a volume of 461896 shares. The stock had previously closed at $26.35.

Analyst Ratings Changes

A number of research analysts have recently commented on PARR shares. Wall Street Zen cut Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a report on Wednesday, May 28th. Piper Sandler lifted their price target on Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. UBS Group reduced their price target on Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Mizuho raised their price objective on shares of Par Pacific from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Par Pacific presently has an average rating of "Hold" and an average target price of $21.25.

Par Pacific Trading Up 1.6%

The stock has a market cap of $1.44 billion, a P/E ratio of -24.63 and a beta of 1.68. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56. The firm's fifty day simple moving average is $19.20 and its 200-day simple moving average is $16.83.

Par Pacific (NYSE:PARR - Get Free Report) last announced its 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 firm 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 quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. Equities research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PARR. New York State Teachers Retirement System grew its stake in Par Pacific by 1.8% during the fourth quarter. New York State Teachers Retirement System now owns 98,391 shares of the company's stock worth $1,613,000 after purchasing an additional 1,700 shares during the period. Rhumbline Advisers boosted its holdings in shares of Par Pacific by 1.5% during the 4th quarter. Rhumbline Advisers now owns 181,940 shares of the company's stock worth $2,982,000 after buying an additional 2,709 shares in the last quarter. Allworth Financial LP grew its position in shares of Par Pacific by 4,804.2% during the 4th quarter. Allworth Financial LP now owns 8,141 shares of the company's stock worth $139,000 after buying an additional 7,975 shares during the period. Principal Financial Group Inc. grew its position in shares of Par Pacific by 2.2% during the 4th quarter. Principal Financial Group Inc. now owns 271,242 shares of the company's stock worth $4,446,000 after buying an additional 5,710 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in shares of Par Pacific by 126.2% in the 4th quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company's stock valued at $843,000 after acquiring an additional 27,480 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.