Par Pacific (NYSE:PARR) Trading Down 5.3% Following Weak Earnings

Par Pacific Holdings, Inc. (NYSE:PARR) shares fell 5.3% during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $15.30 and last traded at $14.61. 212,373 shares traded hands during trading, a decline of 78% from the average session volume of 954,614 shares. The stock had previously closed at $15.43.

The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $22.00 in a research report on Monday, December 16th. The Goldman Sachs Group reduced their price target on shares of Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday. Raymond James began coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.86.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares during the period. Walleye Capital LLC increased its holdings in Par Pacific by 1,014.3% in the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after buying an additional 249,290 shares during the period. State Street Corp increased its holdings in Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after buying an additional 328,325 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Par Pacific by 7.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock worth $2,248,000 after buying an additional 8,844 shares during the period. Finally, Algert Global LLC increased its holdings in Par Pacific by 63.8% in the 3rd quarter. Algert Global LLC now owns 303,970 shares of the company’s stock worth $5,350,000 after buying an additional 118,393 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Trading Up 1.3 %

The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company has a 50-day simple moving average of $16.67 and a 200 day simple moving average of $17.78. The firm has a market cap of $789.82 million, a PE ratio of 2.74 and a beta of 1.99.

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.