Par Pacific (NYSE:PARR) Price Target Raised to $40.00

Par Pacific (NYSE:PARR) had its target price boosted by Mizuho from $34.00 to $40.00 in a research report released on Monday, Marketbeat Ratings reports. Mizuho currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on PARR. Piper Sandler lifted their price objective on shares of Par Pacific from $39.00 to $44.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Zacks Research upgraded shares of Par Pacific to a “strong-buy” rating in a research report on Monday, August 11th. Cowen reiterated a “buy” rating on shares of Par Pacific in a research report on Thursday, August 7th. TD Cowen reduced their target price on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Raymond James Financial boosted their target price on shares of Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and a consensus target price of $30.68.

Par Pacific Stock Performance

NYSE:PARR opened at $35.29 on Monday. The firm’s fifty day moving average price is $32.09 and its 200 day moving average price is $23.31. Par Pacific has a 1-year low of $11.86 and a 1-year high of $36.39. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -126.03 and a beta of 1.82.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the firm posted $0.49 EPS. Par Pacific’s quarterly revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts expect that Par Pacific will post 0.15 EPS for the current year.

Insider Transactions at Par Pacific

In related news, insider Shawn David Flores sold 8,062 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.50, for a total value of $278,139.00. Following the completion of the transaction, the insider owned 39,089 shares of the company’s stock, valued at approximately $1,348,570.50. The trade was a 17.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total transaction of $180,627.40. Following the completion of the transaction, the insider directly owned 24,679 shares of the company’s stock, valued at $852,659.45. The trade was a 17.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,954 shares of company stock worth $863,048 in the last ninety days. Company insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after buying an additional 586,003 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Par Pacific by 89.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after buying an additional 681,190 shares during the period. Encompass Capital Advisors LLC purchased a new stake in Par Pacific in the 2nd quarter valued at about $34,609,000. Charles Schwab Investment Management Inc. grew its holdings in Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock valued at $17,194,000 after buying an additional 296,536 shares during the period. Finally, Invesco Ltd. grew its holdings in Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company’s stock valued at $16,500,000 after buying an additional 67,481 shares during the period. 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.