Par Pacific (NYSE:PARR) PT Lowered to $36.00 at TD Cowen

Par Pacific (NYSE:PARR) had its price objective decreased by TD Cowen from $42.00 to $36.00 in a research note released on Tuesday morning, MarketBeat reports. TD Cowen currently has a buy rating on the stock.

Other research analysts also recently issued 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 note on Friday, June 14th. StockNews.com downgraded shares of Par Pacific from a buy rating to a hold rating in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific has an average rating of Hold and an average price target of $36.25.

Par Pacific Price Performance

PARR opened at $25.24 on Tuesday. The company has a fifty day simple moving average of $27.61 and a 200 day simple moving average of $33.30. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 3.16 and a beta of 1.99. Par Pacific has a twelve month low of $23.78 and a twelve month high of $40.69. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.12 billion. Equities research analysts expect that Par Pacific will post 3.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TD Asset Management Inc lifted its position in shares of Par Pacific by 46.4% in the 4th quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock worth $3,797,000 after buying an additional 33,100 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in Par Pacific by 14.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after purchasing an additional 154,571 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new stake in Par Pacific in the 4th quarter valued at about $1,637,000. Public Employees Retirement System of Ohio lifted its position in Par Pacific by 5,017.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,454 shares of the company’s stock valued at $1,418,000 after purchasing an additional 38,683 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Par Pacific by 4.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,297 shares of the company’s stock valued at $298,000 after purchasing an additional 388 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

About Par Pacific

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.