Par Pacific (NYSE:PARR) Reaches New 12-Month High - Here's What Happened

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

Analysts Set New Price Targets

Several research firms recently weighed in on PARR. Wall Street Zen downgraded shares of Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, June 6th. TD Cowen reduced their price target on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Mizuho upped their target price 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. Piper Sandler upped their target price on shares of Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Finally, UBS Group lowered their price target on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $21.25.

Par Pacific Stock Performance

The firm's 50-day moving average price is $18.11 and its 200 day moving average price is $16.54. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 5.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data 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). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the business earned $0.69 earnings per share. Par Pacific's revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Large investors have recently bought and sold shares of the company. US Bancorp DE grew its position in Par Pacific by 55.7% in the 4th 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 increased its position in shares of Par Pacific by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company's stock worth $471,000 after purchasing an additional 860 shares during the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Par Pacific by 2.3% in the first 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 lifted its stake in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after acquiring an additional 986 shares during the last quarter. Finally, Mariner LLC grew its holdings in shares of Par Pacific by 7.7% in the fourth quarter. Mariner LLC now owns 15,136 shares of the company's stock worth $248,000 after purchasing an additional 1,086 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.