Par Pacific (NYSE:PARR) Trading Down 4.7% - Should You Sell?

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 trading, a decline of 84% from the average daily volume of 1,220,545 shares. The stock had previously closed at $34.52.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PARR shares. Piper Sandler raised their price objective on Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Wall Street Zen cut Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, June 6th. Mizuho set a $34.00 price objective on Par Pacific and gave the stock a "neutral" rating in a report on Friday, July 11th. 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 report on Wednesday, May 28th. Finally, UBS Group decreased their price objective 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 research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $26.68.

Par Pacific Stock Performance

The firm has a market capitalization of $1.65 billion, a PE ratio of -28.27 and a beta of 1.73. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.56 and a quick ratio of 0.54. The stock has a 50-day moving average price of $25.66 and a 200-day moving average price of $18.85.

Par Pacific (NYSE:PARR - Get Free Report) last announced 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). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.49 billion. Par Pacific had a negative net margin of 0.77% and a negative return on equity of 5.87%. The firm's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently made changes to their positions in PARR. SummerHaven Investment Management LLC boosted its position in shares of Par Pacific by 3.1% during the second quarter. SummerHaven Investment Management LLC now owns 34,054 shares of the company's stock worth $903,000 after buying an additional 1,036 shares during the period. Public Employees Retirement System of Ohio lifted its position in Par Pacific by 17.4% in the second quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company's stock worth $76,000 after purchasing an additional 428 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in Par Pacific in the second quarter worth approximately $304,000. GAMMA Investing LLC lifted its position in Par Pacific by 94.4% in the second quarter. GAMMA Investing LLC now owns 14,692 shares of the company's stock worth $390,000 after purchasing an additional 7,136 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock worth $31,000 after purchasing an additional 753 shares during the period. 92.15% of the stock is owned by institutional investors.

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.