Par Pacific (NYSE:PARR) Stock Price Down 5% – Should You Sell?

Par Pacific Holdings, Inc. (NYSE:PARR) shares fell 5% during mid-day trading on Thursday . The stock traded as low as $66.25 and last traded at $65.1170. 405,719 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,245,696 shares. The stock had previously closed at $68.57.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PARR. Guggenheim upgraded Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research report on Wednesday. Raymond James Financial raised their price target on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $53.00 to $77.00 in a report on Friday, April 10th. Finally, Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.86.

Par Pacific Stock Down 3.7%

The firm has a fifty day moving average of $58.11 and a 200-day moving average of $51.18. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.31 billion, a P/E ratio of 7.37 and a beta of 0.82.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.94) earnings per share. On average, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 16.31 earnings per share for the current year.

Institutional Trading of Par Pacific

A number of large investors have recently added to or reduced their stakes in PARR. NewEdge Advisors LLC acquired a new position in shares of Par Pacific during the 1st quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after purchasing an additional 173 shares during the last quarter. Aster Capital Management DIFC Ltd grew its holdings in Par Pacific by 34.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after purchasing an additional 478 shares during the period. Rockefeller Capital Management L.P. increased its position in Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after buying an additional 1,558 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in Par Pacific by 70.4% during the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after buying an additional 866 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.