Par Pacific (NYSE:PARR) Price Target Cut to $36.00

Par Pacific (NYSE:PARR) had its price target reduced by TD Cowen from $42.00 to $36.00 in a research note released on Tuesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler decreased their target price on Par Pacific from $43.00 to $37.00 and set an overweight rating for the company in a research note on Friday, June 14th. StockNews.com downgraded shares of Par Pacific from a buy rating to a hold rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $36.25.

Par Pacific Price Performance

Shares of PARR opened at $24.72 on Tuesday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 3.09 and a beta of 1.99. The firm’s fifty day simple moving average is $27.74 and its 200-day simple moving average is $33.36. Par Pacific has a twelve month low of $23.78 and a twelve month high of $40.69. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. Equities analysts forecast that Par Pacific will post 3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised its position in Par Pacific by 4.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 8,297 shares of the company’s stock valued at $298,000 after purchasing an additional 388 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Par Pacific by 153.4% in the third quarter. HighTower Advisors LLC now owns 20,433 shares of the company’s stock valued at $727,000 after buying an additional 12,369 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Par Pacific by 1.5% during the third quarter. Rhumbline Advisers now owns 185,175 shares of the company’s stock worth $6,655,000 after buying an additional 2,817 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Par Pacific by 39.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 49,890 shares of the company’s stock worth $1,793,000 after buying an additional 14,238 shares during the period. Finally, MQS Management LLC purchased a new position in shares of Par Pacific during the third quarter worth about $297,000. Hedge funds and other institutional investors 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.