Par Pacific (NYSE:PARR) Price Target Cut to $28.00

Par Pacific (NYSE:PARR) had its price target reduced by The Goldman Sachs Group from $32.00 to $28.00 in a report released on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts also recently weighed in on the company. Tudor Pickering upgraded Par Pacific to a hold rating in a research report on Monday, September 9th. UBS Group cut their price objective on Par Pacific from $40.00 to $29.00 and set a neutral rating for the company in a research note on Monday, August 19th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a neutral rating to an overweight rating and decreased their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Mizuho reduced their price objective on shares of Par Pacific from $28.00 to $26.00 and set an outperform rating for the company in a research note on Wednesday. Finally, Piper Sandler downgraded shares of 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $28.00.

Par Pacific Trading Up 2.2 %

Shares of NYSE:PARR opened at $18.26 on Wednesday. The stock’s 50-day simple moving average is $20.53 and its two-hundred day simple moving average is $25.62. The stock has a market capitalization of $1.03 billion, a price-to-earnings ratio of 2.34 and a beta of 1.98. Par Pacific has a 52-week low of $17.06 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 posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm posted $1.73 earnings per share. The firm’s revenue was up 13.1% compared to the same quarter last year. Analysts expect that Par Pacific will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several large investors have recently made changes to their positions in PARR. Headlands Technologies LLC grew its holdings in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Par Pacific during the second quarter valued at $43,000. Quarry LP lifted its position in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC grew its stake 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 in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of Par Pacific in the 2nd quarter worth about $104,000. 92.15% of the stock is 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.