Par Pacific (NYSE:PARR) Hits New 1-Year Low – Here’s What Happened

Par Pacific Holdings, Inc. (NYSE:PARR)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $16.62 and last traded at $16.62, with a volume of 189684 shares trading hands. The stock had previously closed at $17.50.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of recent research reports. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. TD Cowen cut their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Finally, UBS Group cut their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.00.

Par Pacific Price Performance

The stock has a 50-day moving average price of $19.39 and a 200 day moving average price of $24.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The firm has a market cap of $975.10 million, a price-to-earnings ratio of 2.11 and a beta of 1.98.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s revenue was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.76 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Par Pacific in the 1st quarter valued at about $978,000. Russell Investments Group Ltd. increased its position in Par Pacific by 14.9% in the 1st quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock valued at $7,579,000 after acquiring an additional 26,485 shares during the period. Quantbot Technologies LP acquired a new position in Par Pacific in the 1st quarter valued at about $2,156,000. WINTON GROUP Ltd increased its position in Par Pacific by 802.8% in the 2nd quarter. WINTON GROUP Ltd now owns 134,185 shares of the company’s stock valued at $3,388,000 after acquiring an additional 119,321 shares during the period. Finally, Victory Capital Management Inc. increased its position in Par Pacific by 131.1% in the 2nd quarter. Victory Capital Management Inc. now owns 86,880 shares of the company’s stock valued at $2,194,000 after acquiring an additional 49,286 shares during the period. Institutional investors and hedge funds 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.