Par Pacific (NYSE:PARR) Price Target Cut to $21.00 by Analysts at Piper Sandler

Par Pacific (NYSE:PARR) had its price objective cut by Piper Sandler from $25.00 to $21.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

PARR has been the topic of a number of other research reports. StockNews.com lowered Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Mizuho lowered 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 report on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Raymond James started coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective on the stock. Finally, TD Cowen dropped their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.57.

Par Pacific Trading Up 2.2 %

NYSE:PARR opened at $13.22 on Friday. The firm has a market cap of $723.93 million, a P/E ratio of 2.56 and a beta of 2.01. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock’s 50 day simple moving average is $16.39 and its 200-day simple moving average is $17.42. Par Pacific has a 12-month low of $11.86 and a 12-month high of $40.20.

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

Insiders Place Their Bets

In other news, Director William Pate sold 67,700 shares of the company’s stock in a transaction 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 sale, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by company insiders.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently made changes to their positions in the stock. Walleye Capital LLC lifted its position in shares of Par Pacific by 1,014.3% in the third quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after acquiring an additional 249,290 shares in the last quarter. State Street Corp lifted its position in shares of Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after acquiring an additional 328,325 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Par Pacific by 126.2% in the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company’s stock valued at $843,000 after acquiring an additional 27,480 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Par Pacific by 7.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock valued at $2,248,000 after acquiring an additional 8,844 shares in the last quarter. Finally, Algert Global LLC lifted its position in Par Pacific by 63.8% during the third quarter. Algert Global LLC now owns 303,970 shares of the company’s stock worth $5,350,000 after buying an additional 118,393 shares during the period. 92.15% of the stock is currently owned by hedge funds and other 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.