Par Pacific (NYSE:PARR) PT Lowered to $42.00

Par Pacific (NYSE:PARR) had its price objective decreased by investment analysts at TD Cowen from $45.00 to $42.00 in a research report issued on Wednesday, Briefing.com reports. The firm currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 41.08% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. StockNews.com cut Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Piper Sandler upped their price target on Par Pacific from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.25.

Par Pacific Stock Down 1.8 %

Shares of NYSE:PARR opened at $29.77 on Wednesday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 2.49 and a beta of 1.98. Par Pacific has a 1 year low of $20.30 and a 1 year high of $40.69. The stock has a 50-day simple moving average of $35.37 and a 200-day simple moving average of $35.20. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.54 and a current ratio of 1.30.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 27th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.45 billion. Par Pacific had a return on equity of 47.63% and a net margin of 8.85%. Equities analysts forecast that Par Pacific will post 4.56 earnings per share for the current year.

Insider Activity

In other news, CAO Ivan Daniel Guerra sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total value of $224,940.00. Following the sale, the chief accounting officer now owns 16,200 shares in the company, valued at approximately $607,338. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Jeffrey Ryan Hollis sold 4,700 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total transaction of $175,733.00. Following the completion of the sale, the insider now owns 13,176 shares of the company’s stock, valued at approximately $492,650.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Ivan Daniel Guerra sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the transaction, the chief accounting officer now owns 16,200 shares of the company’s stock, valued at approximately $607,338. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kennedy Capital Management LLC boosted its holdings in shares of Par Pacific by 2.4% in the third quarter. Kennedy Capital Management LLC now owns 12,235 shares of the company’s stock valued at $440,000 after acquiring an additional 287 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Par Pacific by 1.9% in the third quarter. Arizona State Retirement System now owns 16,510 shares of the company’s stock valued at $593,000 after acquiring an additional 309 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in shares of Par Pacific by 4.0% in the fourth quarter. Mackenzie Financial Corp now owns 8,270 shares of the company’s stock valued at $301,000 after acquiring an additional 317 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Par Pacific by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 27,703 shares of the company’s stock valued at $1,008,000 after acquiring an additional 324 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in Par Pacific by 1.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,168 shares of the company’s stock valued at $879,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

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.