Par Pacific (NYSE:PARR) Stock Price Down 5.3% After Earnings Miss

Par Pacific Holdings, Inc. (NYSE:PARR)’s share price was down 5.3% on Wednesday following a dissappointing earnings announcement. The stock traded as low as $15.30 and last traded at $14.61. Approximately 212,373 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 954,614 shares. The stock had previously closed at $15.43.

The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%.

Analyst Upgrades and Downgrades

PARR has been the subject of several analyst reports. Raymond James assumed coverage on Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price for the company. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group dropped their price target on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $25.29.

Insider Activity at Par Pacific

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

Hedge Funds Weigh In On Par Pacific

A number of large investors have recently bought and sold shares of the business. Creative Planning raised its position in shares of Par Pacific by 246.2% during the 3rd quarter. Creative Planning now owns 33,014 shares of the company’s stock worth $581,000 after purchasing an additional 23,478 shares during the period. Private Advisor Group LLC increased its position in Par Pacific by 60.4% in the 3rd quarter. Private Advisor Group LLC now owns 21,213 shares of the company’s stock valued at $373,000 after acquiring an additional 7,987 shares during the period. State of Alaska Department of Revenue raised its stake in Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after acquiring an additional 810 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Par Pacific by 2.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock worth $929,000 after acquiring an additional 1,226 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Par Pacific by 160.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after acquiring an additional 315,967 shares during the period. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

The business has a fifty day moving average price of $16.72 and a 200 day moving average price of $17.83. 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 company has a market capitalization of $818.86 million, a price-to-earnings ratio of 2.85 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.