Par Pacific (NYSE:PARR) Shares Up 5.8% - Should You Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PARR shares. 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. Wall Street Zen cut shares of Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. TD Cowen dropped their price target on shares of 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 dropped 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. Finally, Mizuho lifted their price objective on shares of Par Pacific from $18.00 to $21.00 and gave the company a "neutral" rating in a report on Tuesday, May 13th. 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. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $21.25.

Par Pacific Stock Up 2.4%

The firm has a market cap of $1.27 billion, a PE ratio of 4.76 and a beta of 1.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm's 50-day moving average price is $17.84 and its two-hundred day moving average price is $16.49.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $1.49 billion. During the same quarter last year, the company earned $0.69 EPS. The firm's revenue for the quarter was down 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Institutional Trading of Par Pacific

Several institutional investors and hedge funds have recently bought and sold shares of PARR. Nuveen LLC acquired a new position in Par Pacific in the 1st quarter valued at $12,750,000. Solas Capital Management LLC increased its stake in Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock valued at $13,030,000 after buying an additional 641,423 shares during the period. Millennium Management LLC increased its stake in Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after buying an additional 586,003 shares during the period. Bridgewater Associates LP acquired a new position in Par Pacific in the 4th quarter valued at $9,293,000. Finally, Walleye Capital LLC increased its stake in Par Pacific by 365.4% in the 1st quarter. Walleye Capital LLC now owns 424,549 shares of the company's stock valued at $6,054,000 after buying an additional 333,319 shares during the period. Hedge funds and other 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.