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

Par Pacific (NYSE:PARR) had its price target cut by JPMorgan Chase & Co. from $38.00 to $36.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

PARR has been the topic of a number of other research reports. StockNews.com downgraded shares of Par Pacific from a buy rating to a hold rating in a research report on Monday, March 4th. Piper Sandler dropped their price objective on Par Pacific from $43.00 to $37.00 and set an overweight rating on the stock in a research note on Friday, June 14th. Finally, TD Cowen decreased their target price on Par Pacific from $42.00 to $36.00 and set a buy rating for the company in a research note on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $36.20.

Par Pacific Price Performance

NYSE:PARR opened at $25.78 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.50 and a current ratio of 1.28. The firm has a market cap of $1.49 billion, a price-to-earnings ratio of 3.23 and a beta of 2.01. Par Pacific has a 52 week low of $23.78 and a 52 week high of $40.69. The firm’s 50-day simple moving average is $27.06 and its 200 day simple moving average is $33.07.

Par Pacific (NYSE:PARR) last announced 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 for the quarter, compared to the consensus estimate of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. As a group, sell-side analysts predict that Par Pacific will post 2.92 earnings per share for the current year.

Institutional Trading of Par Pacific

Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in Par Pacific by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock worth $77,589,000 after acquiring an additional 12,777 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Par Pacific by 14.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after purchasing an additional 154,571 shares during the period. Goldman Sachs Group Inc. increased its stake in Par Pacific by 28.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock valued at $44,635,000 after purchasing an additional 268,219 shares in the last quarter. Hennessy Advisors Inc. raised its holdings in Par Pacific by 18.7% during the first quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after buying an additional 134,600 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Par Pacific by 14.6% in the third quarter. American Century Companies Inc. now owns 727,232 shares of the company’s stock valued at $26,137,000 after buying an additional 92,537 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.