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

Par Pacific (NYSE:PARR) had its target price lowered by Mizuho from $30.00 to $28.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reduced their price objective on shares of Par Pacific from $43.00 to $37.00 and set an overweight rating on the stock in a research report on Friday, June 14th. JPMorgan Chase & Co. reduced their price target on shares of Par Pacific from $38.00 to $36.00 and set a neutral rating on the stock in a report on Tuesday, July 2nd. TD Cowen dropped their price objective on shares of Par Pacific from $36.00 to $32.00 and set a buy rating for the company in a report on Friday, August 9th. UBS Group reduced their target price on Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a report on Monday, August 19th. Finally, The Goldman Sachs Group decreased their target price on Par Pacific from $37.00 to $32.00 and set a neutral rating on the stock in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific currently has an average rating of Hold and an average price target of $32.33.

Par Pacific Trading Up 1.7 %

Shares of Par Pacific stock opened at $19.69 on Monday. Par Pacific has a fifty-two week low of $18.00 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. The company has a market capitalization of $1.14 billion, a P/E ratio of 2.46 and a beta of 1.99. The company has a fifty day moving average of $22.66 and a 200 day moving average of $27.85.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.73 earnings per share. On average, sell-side analysts anticipate that Par Pacific will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in shares of Par Pacific by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock valued at $904,000 after purchasing an additional 4,184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Par Pacific by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock worth $23,473,000 after buying an additional 9,650 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Par Pacific by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock worth $77,589,000 after buying an additional 12,777 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Par Pacific by 473.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock valued at $1,730,000 after acquiring an additional 39,263 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Par Pacific by 91.4% in the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after acquiring an additional 458 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.