Par Pacific (NYSE:PARR) PT Lowered to $28.00

Par Pacific (NYSE:PARR) had its price target cut by investment analysts at Mizuho from $30.00 to $28.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target indicates a potential upside of 44.33% from the company’s current price.

Several other brokerages also recently commented on PARR. Piper Sandler decreased their target price on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. UBS Group decreased their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. TD Cowen decreased their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and an average price target of $32.33.

Par Pacific Trading Up 2.4 %

PARR stock opened at $19.40 on Monday. The company has a market capitalization of $1.09 billion, a PE ratio of 2.43 and a beta of 1.99. Par Pacific has a one year low of $18.00 and a one year high of $40.69. The company’s 50 day moving average price is $22.73 and its two-hundred day moving average price is $27.91. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, analysts predict that Par Pacific will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PARR. Headlands Technologies LLC boosted its holdings in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Par Pacific during the 2nd quarter valued at $43,000. Quarry LP boosted its holdings in shares of Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares in the last quarter. Finally, nVerses Capital LLC boosted its holdings in shares of Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.