Piper Sandler Trims Par Pacific (NYSE:PARR) Target Price to $37.00

Par Pacific (NYSE:PARRFree Report) had its price target cut by Piper Sandler from $43.00 to $37.00 in a research note issued to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also commented on PARR. TD Cowen reduced their price objective on Par Pacific from $45.00 to $42.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. StockNews.com lowered shares of Par Pacific from a buy rating to a hold rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Par Pacific presently has a consensus rating of Hold and an average target price of $37.75.

Get Our Latest Stock Analysis on Par Pacific

Par Pacific Trading Up 1.5 %

Shares of Par Pacific stock opened at $24.87 on Friday. Par Pacific has a 12-month low of $23.19 and a 12-month high of $40.69. The stock has a market capitalization of $1.44 billion, a P/E ratio of 3.11 and a beta of 2.00. The company has a 50-day simple moving average of $29.21 and a 200 day simple moving average of $33.88. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARRGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). The firm had revenue of $1.98 billion for the quarter, compared to analyst estimates of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. Research analysts expect that Par Pacific will post 3.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently made changes to their positions in PARR. Yaupon Capital Management LP boosted its holdings in Par Pacific by 31.8% in the first quarter. Yaupon Capital Management LP now owns 520,621 shares of the company’s stock valued at $19,294,000 after acquiring an additional 125,747 shares during the last quarter. Janus Henderson Group PLC lifted its position in Par Pacific by 24.2% during the 1st quarter. Janus Henderson Group PLC now owns 36,692 shares of the company’s stock valued at $1,358,000 after purchasing an additional 7,148 shares during the period. Bridgeway Capital Management LLC boosted its stake in shares of Par Pacific by 2.6% in the 1st quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company’s stock valued at $24,010,000 after purchasing an additional 16,653 shares during the last quarter. Caxton Associates LP grew its position in shares of Par Pacific by 4.6% during the 1st quarter. Caxton Associates LP now owns 31,065 shares of the company’s stock worth $1,151,000 after buying an additional 1,372 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Par Pacific by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 47,549 shares of the company’s stock worth $1,763,000 after buying an additional 1,935 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Par Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Par Pacific and related companies with MarketBeat.com's FREE daily email newsletter.