Par Pacific (NYSE:PARR) Given New $28.00 Price Target at Mizuho

Par Pacific (NYSE:PARR) had its price objective reduced by Mizuho from $30.00 to $28.00 in a research report sent to investors on Monday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other analysts have also issued reports on PARR. The Goldman Sachs Group dropped their target price on Par Pacific from $37.00 to $32.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. Tudor, Pickering, Holt & Co. cut Par Pacific from a buy rating to a hold rating in a research note on Monday, September 9th. Tudor Pickering raised shares of Par Pacific to a hold rating in a research note on Monday, September 9th. UBS Group lowered their target price on shares of Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $38.00 to $36.00 and set a neutral rating for the company in a research note on Tuesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $32.33.

Par Pacific Price Performance

Shares of PARR opened at $18.95 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. Par Pacific has a twelve month low of $18.00 and a twelve month high of $40.69. The stock has a market capitalization of $1.07 billion, a P/E ratio of 2.37 and a beta of 1.99. The company has a 50 day moving average of $22.82 and a 200-day moving average of $28.03.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating 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 business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Par Pacific will post 2.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC boosted its holdings in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after buying an additional 458 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Par Pacific by 2.0% during the second quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock worth $721,000 after acquiring an additional 563 shares during the period. Range Financial Group LLC grew its position in shares of Par Pacific by 9.8% in the first quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after purchasing an additional 608 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of Par Pacific by 5.1% during the second quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock worth $352,000 after purchasing an additional 677 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Par Pacific by 1.6% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock worth $1,108,000 after purchasing an additional 703 shares during 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.