Par Pacific (NYSE:PARR) Shares Gap Down - Should You Sell?

Shares of Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $22.47, but opened at $21.79. Par Pacific shares last traded at $21.79, with a volume of 176,000 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PARR. The Goldman Sachs Group downgraded Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Wednesday. Mizuho lifted their target price on Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. TD Cowen cut their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Piper Sandler lifted their target price on Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, UBS Group cut their target price on Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.25.

Par Pacific Price Performance

The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $16.17 and a 200 day simple moving average of $16.15. The stock has a market capitalization of $1.11 billion, a P/E ratio of 4.18 and a beta of 1.50.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business posted $0.69 earnings per share. The business's revenue was down 11.9% compared to the same quarter last year. On average, analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Nuveen LLC bought a new stake in shares of Par Pacific in the first quarter valued at approximately $12,750,000. Solas Capital Management LLC lifted its holdings in Par Pacific by 417.7% during the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock worth $13,030,000 after purchasing an additional 641,423 shares in the last quarter. Millennium Management LLC lifted its holdings in Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after purchasing an additional 586,003 shares in the last quarter. Bridgewater Associates LP purchased a new stake in Par Pacific during the 4th quarter worth about $9,293,000. Finally, Walleye Capital LLC lifted its holdings in Par Pacific by 365.4% during the 1st quarter. Walleye Capital LLC now owns 424,549 shares of the company's stock worth $6,054,000 after purchasing an additional 333,319 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

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.