Par Pacific (NYSE:PARR) Price Target Cut to $26.00 by Analysts at JPMorgan Chase & Co.

Par Pacific (NYSE:PARR) had its price objective reduced by JPMorgan Chase & Co. from $27.00 to $26.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $23.00 in a research report on Friday, September 20th. The Goldman Sachs Group decreased their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Finally, StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $25.83.

Par Pacific Trading Down 2.8 %

PARR stock opened at $17.88 on Thursday. The firm has a fifty day moving average price of $16.75 and a 200 day moving average price of $19.44. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The firm has a market cap of $1.00 billion, a PE ratio of 3.46 and a beta of 2.00. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $3.15 EPS. The business’s quarterly revenue was down 16.9% on a year-over-year basis. Sell-side analysts anticipate that Par Pacific will post 1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after acquiring an additional 1,167 shares in the last quarter. Quarry LP raised its holdings in shares of Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares in the last quarter. FMR LLC raised its holdings in shares of Par Pacific by 126.7% in the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after purchasing an additional 4,826 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Par Pacific in the 3rd quarter worth approximately $185,000. Finally, Verition Fund Management LLC bought a new position in shares of Par Pacific during the third quarter valued at approximately $197,000. 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.