Par Pacific (NYSE:PARR) Shares Down 4.7% - What's Next?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report) shares were down 4.7% during trading on Wednesday . The company traded as low as $33.11 and last traded at $32.91. Approximately 199,102 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,220,545 shares. The stock had previously closed at $34.52.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group lowered their price objective on Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research report on Wednesday, May 28th. Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a research report on Friday, July 11th. Raymond James Financial set a $38.00 price objective on Par Pacific and gave the company an "outperform" rating in a research report on Tuesday. Finally, Wall Street Zen cut Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $26.68.

Par Pacific Stock Down 0.8%

The firm has a market capitalization of $1.65 billion, a PE ratio of -28.34 and a beta of 1.73. The company has a fifty day moving average price of $25.38 and a 200-day moving average price of $18.72. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The firm's revenue was down 11.9% on a year-over-year basis. During the same period last year, the company earned $0.69 earnings per share. As a group, analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Par Pacific

Several large investors have recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in shares of Par Pacific by 3.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 34,054 shares of the company's stock valued at $903,000 after purchasing an additional 1,036 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Par Pacific by 17.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company's stock valued at $76,000 after purchasing an additional 428 shares during the last quarter. Kapitalo Investimentos Ltda bought a new position in Par Pacific in the 2nd quarter valued at $304,000. GAMMA Investing LLC grew its position in Par Pacific by 94.4% in the 2nd quarter. GAMMA Investing LLC now owns 14,692 shares of the company's stock valued at $390,000 after acquiring an additional 7,136 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Par Pacific by 175.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after acquiring an additional 753 shares during the last quarter. Institutional investors own 92.15% of the company's stock.

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.