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

Par Pacific (NYSE:PARR) had its price target lowered by Piper Sandler from $43.00 to $37.00 in a research note released on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

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

Par Pacific Trading Up 1.5 %

Shares of Par Pacific stock opened at $24.87 on Friday. 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 stock has a market capitalization of $1.44 billion, a P/E ratio of 3.11 and a beta of 2.00. Par Pacific has a 52-week low of $23.19 and a 52-week high of $40.69. The stock’s 50-day simple moving average is $29.21 and its 200 day simple moving average is $33.88.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.12 billion. Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. As a group, research analysts anticipate that Par Pacific will post 3.69 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

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

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.