Mizuho Begins Coverage on Par Pacific (NYSE:PARR)

Mizuho started coverage on shares of Par Pacific (NYSE:PARR) in a research note published on Wednesday, Marketbeat.com reports. The brokerage issued an outperform rating and a $33.00 price target on the stock.

A number of other equities analysts also recently commented on the company. Piper Sandler decreased their target price on Par Pacific from $43.00 to $37.00 and set an overweight rating for the company in a report on Friday, June 14th. JPMorgan Chase & Co. cut their price objective on Par Pacific from $38.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Finally, TD Cowen reduced their price target on Par Pacific from $42.00 to $36.00 and set a buy rating on the stock in a research note on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Par Pacific currently has a consensus rating of Hold and a consensus target price of $35.67.

Par Pacific Trading Up 0.5 %

Shares of PARR opened at $23.63 on Wednesday. The stock has a market capitalization of $1.37 billion, a P/E ratio of 2.96 and a beta of 2.01. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $25.62 and a two-hundred day simple moving average of $32.13. Par Pacific has a twelve month low of $22.77 and a twelve month high of $40.69.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results 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 analysts’ expectations of $2.12 billion. Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. On average, research analysts anticipate that Par Pacific will post 1.83 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. bought a new position in shares of Par Pacific in the fourth quarter worth approximately $30,000. Quadrant Capital Group LLC lifted its stake in shares of Par Pacific by 91.4% in the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after buying an additional 458 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Par Pacific in the first quarter worth approximately $157,000. Navellier & Associates Inc. bought a new position in shares of Par Pacific in the fourth quarter worth approximately $221,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Par Pacific by 17.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock worth $252,000 after buying an additional 1,024 shares in the last quarter. 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.