Par Pacific (NYSE:PARR) Shares Down 3.7% - Here's Why

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s stock price fell 3.7% during trading on Wednesday . The stock traded as low as $20.95 and last traded at $21.05. 100,148 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,145,238 shares. The stock had previously closed at $21.85.

Analysts Set New Price Targets

Several brokerages recently commented on PARR. TD Cowen dropped 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. Wall Street Zen downgraded shares of Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Piper Sandler increased their price objective on shares of Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research report on Wednesday, May 28th. Finally, UBS Group decreased their price target 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, April 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.25.

Par Pacific Stock 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 company's 50-day simple moving average is $16.60 and its 200-day simple moving average is $16.24. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 4.15 and a beta of 1.50.

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 for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.69 earnings per share. The company's quarterly 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 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

A number of large investors have recently bought and sold shares of PARR. Nuveen LLC acquired a new stake in Par Pacific in the first quarter worth $12,750,000. Solas Capital Management LLC grew its holdings in Par Pacific by 417.7% in the fourth 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 during the period. Millennium Management LLC grew its holdings in Par Pacific by 43.4% in the fourth 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 during the period. Bridgewater Associates LP acquired a new stake in Par Pacific in the fourth quarter worth $9,293,000. Finally, Walleye Capital LLC grew its holdings in Par Pacific by 365.4% in the first 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 during the period. 92.15% of the stock is currently 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.