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

Par Pacific (NYSE:PARR) had its price objective reduced by equities research analysts at Piper Sandler from $25.00 to $21.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 58.32% from the stock’s previous close.

A number of other equities analysts have also issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Par Pacific from $20.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, February 27th. TD Cowen lowered their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. StockNews.com cut shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Raymond James initiated coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.57.

Par Pacific Stock Up 2.5 %

Shares of NYSE PARR traded up $0.32 during mid-day trading on Friday, reaching $13.26. The company had a trading volume of 108,214 shares, compared to its average volume of 939,437. Par Pacific has a 52-week low of $11.86 and a 52-week high of $40.20. The stock has a market cap of $726.18 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 firm has a 50 day simple moving average of $16.39 and a two-hundred day simple moving average of $17.42.

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

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on Thursday, December 12th. The shares were 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 directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Par Pacific

Hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC boosted its stake in Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after buying an additional 1,167 shares during the last quarter. Sterling Capital Management LLC increased its holdings in shares of Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after buying an additional 1,528 shares during the last quarter. US Bancorp DE raised its position in shares of Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after buying an additional 652 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Par Pacific by 123.1% during the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after acquiring an additional 1,784 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.