Par Pacific (NYSE:PARR) Shares Gap Down - What's Next?

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.

Analyst Ratings Changes

Several brokerages have recently issued reports on PARR. The Goldman Sachs Group cut 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. UBS Group lowered their price target on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Wall Street Zen lowered shares of Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Mizuho boosted their target price on shares of Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, TD Cowen cut their price target on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One investment 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, Par Pacific currently has an average rating of "Hold" and a consensus target price of $21.25.

Par Pacific Trading Down 1.9%

The business's 50-day moving average price is $16.17 and its 200-day moving average price is $16.14. The firm has a market capitalization of $1.11 billion, a PE ratio of 4.18 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data 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 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 in the prior year, the firm posted $0.69 earnings per share. The company's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

Several hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE lifted its position in Par Pacific by 55.7% in the fourth 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. Nisa Investment Advisors LLC grew its holdings in Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company's stock worth $42,000 after acquiring an additional 700 shares during the period. SummerHaven Investment Management LLC lifted its holdings in Par Pacific by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company's stock valued at $471,000 after acquiring an additional 860 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of Par Pacific by 2.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock valued at $621,000 after purchasing an additional 960 shares in the last quarter. Finally, Signaturefd LLC grew its position in Par Pacific by 70.2% during the first quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after buying an additional 986 shares during the period. Hedge funds and other 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.