Par Pacific (NYSE:PARR) Price Target Cut to $29.00

Par Pacific (NYSE:PARR) had its price objective reduced by stock analysts at UBS Group from $40.00 to $29.00 in a report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 32.78% from the stock’s current price.

A number of other analysts have also weighed in on PARR. Mizuho started coverage on Par Pacific in a research note on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price objective for the company. TD Cowen lowered their price target 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. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group lowered their price objective on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Finally, Piper Sandler cut their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $33.17.

Par Pacific Price Performance

PARR stock opened at $21.84 on Monday. The firm has a market cap of $1.23 billion, a P/E ratio of 2.73 and a beta of 2.00. The firm’s fifty day moving average is $24.38 and its 200 day moving average is $30.44. Par Pacific has a 52 week low of $21.65 and a 52 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.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. Research analysts predict that Par Pacific will post 1.71 earnings per share for the current year.

Institutional Trading of Par Pacific

Several large investors have recently bought and sold shares of the company. Headlands Technologies LLC lifted its stake in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the period. Quadrant Capital Group LLC lifted its position in Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares during the period. 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 grew its position in shares of Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares during the period. 92.15% of the stock is owned by 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.