Par Pacific (NYSE:PARR) Stock Price Up 5.8% - What's Next?

Par Pacific Holdings, Inc. (NYSE:PARR - Get Free Report)'s share price rose 5.8% during mid-day trading on Wednesday . The company traded as high as $23.64 and last traded at $23.69. Approximately 624,525 shares changed hands during trading, a decline of 46% from the average daily volume of 1,153,574 shares. The stock had previously closed at $22.39.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research report on Wednesday, May 28th. TD Cowen decreased their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. UBS Group reduced their price objective on Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Piper Sandler increased their price objective on Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Finally, Mizuho increased their price objective on Par Pacific from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Par Pacific has a consensus rating of "Hold" and an average target price of $21.25.

Par Pacific Stock Up 2.4%

The business has a 50 day moving average of $17.84 and a 200 day moving average of $16.49. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 4.76 and a beta of 1.68.

Par Pacific (NYSE:PARR - Get Free Report) last issued its 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). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 earnings per share. On average, equities analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PARR. New York State Teachers Retirement System raised its stake in shares of Par Pacific by 1.8% in the fourth quarter. New York State Teachers Retirement System now owns 98,391 shares of the company's stock valued at $1,613,000 after purchasing an additional 1,700 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Par Pacific by 1.5% in the fourth quarter. Rhumbline Advisers now owns 181,940 shares of the company's stock valued at $2,982,000 after purchasing an additional 2,709 shares in the last quarter. Allworth Financial LP raised its stake in shares of Par Pacific by 4,804.2% in the fourth quarter. Allworth Financial LP now owns 8,141 shares of the company's stock valued at $139,000 after purchasing an additional 7,975 shares in the last quarter. Principal Financial Group Inc. raised its stake in Par Pacific by 2.2% during the fourth quarter. Principal Financial Group Inc. now owns 271,242 shares of the company's stock worth $4,446,000 after acquiring an additional 5,710 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in Par Pacific by 126.2% during the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company's stock worth $843,000 after acquiring an additional 27,480 shares in the last quarter. 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.