Par Pacific (NYSE:PARR) Shares Down 2.2% - Here's What Happened

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) fell 2.2% during trading on Monday . The company traded as low as $13.35 and last traded at $13.35. 127,695 shares changed hands during trading, a decline of 88% from the average session volume of 1,052,460 shares. The stock had previously closed at $13.65.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PARR. StockNews.com cut Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. UBS Group dropped their target price on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research report on Wednesday. TD Cowen decreased their price objective on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Piper Sandler cut their target price on shares of Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Finally, The Goldman Sachs Group raised shares of Par Pacific from a "neutral" rating to a "buy" rating and upped their price target for the stock from $18.00 to $19.00 in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific presently has an average rating of "Hold" and a consensus price target of $20.68.

Par Pacific Stock Up 4.8 %

The business's 50 day simple moving average is $14.07 and its 200 day simple moving average is $16.00. The company has a market capitalization of $716.02 million, a PE ratio of 2.55 and a beta of 1.64. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Several institutional investors and hedge funds have recently modified their holdings of PARR. FMR LLC boosted its holdings in Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company's stock worth $152,000 after purchasing an additional 4,826 shares in the last quarter. Barclays PLC increased its holdings in shares of Par Pacific by 10.1% during the 3rd quarter. Barclays PLC now owns 469,640 shares of the company's stock valued at $8,265,000 after acquiring an additional 42,930 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Par Pacific by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company's stock valued at $22,591,000 after acquiring an additional 7,804 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Par Pacific in the 3rd quarter worth approximately $383,000. Finally, GAMMA Investing LLC boosted its position in Par Pacific by 232.5% during the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company's stock worth $27,000 after purchasing an additional 1,167 shares during the period. 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.