TD Cowen Issues Pessimistic Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price objective dropped by equities researchers at TD Cowen from $21.00 to $17.00 in a report released on Thursday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would indicate a potential upside of 18.12% from the stock’s current price.

A number of other research firms also recently commented on PARR. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $22.00 in a report on Monday, December 16th. 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 target price for the company. JPMorgan Chase & Co. cut 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 note on Thursday, January 16th. The Goldman Sachs Group cut their target price on Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and a consensus price target of $22.86.

Par Pacific Stock Performance

Shares of PARR stock opened at $14.39 on Thursday. 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’s fifty day moving average price is $16.65 and its two-hundred day moving average price is $17.72. The firm has a market capitalization of $805.26 million, a P/E ratio of 2.79 and a beta of 1.99. Par Pacific has a 12 month low of $13.40 and a 12 month high of $40.20.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, research analysts anticipate that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other Par Pacific 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 completion of the sale, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its stake in Par Pacific by 160.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock valued at $9,033,000 after purchasing an additional 315,967 shares during the period. Walleye Capital LLC raised its position in Par Pacific by 1,014.3% during the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after buying an additional 249,290 shares during the period. State Street Corp lifted its stake 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 acquiring an additional 328,325 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Par Pacific by 7.4% during 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 acquiring an additional 8,844 shares during the period. Finally, Algert Global LLC grew its stake in Par Pacific by 63.8% during the 3rd quarter. Algert Global LLC now owns 303,970 shares of the company’s stock valued at $5,350,000 after acquiring an additional 118,393 shares in the last quarter. 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.