Mizuho Cuts Par Pacific (NYSE:PARR) Price Target to $26.00

Par Pacific (NYSE:PARR) had its price target cut by Mizuho from $28.00 to $26.00 in a research note published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

PARR has been the subject of several other reports. The Goldman Sachs Group dropped their target price on shares of Par Pacific from $37.00 to $32.00 and set a neutral rating for the company in a research report on Wednesday, July 31st. Tudor Pickering raised shares of Par Pacific to a hold rating in a report on Monday, September 9th. JPMorgan Chase & Co. raised Par Pacific from a neutral rating to an overweight rating and reduced their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. UBS Group lowered their price target on Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a research report on Monday, August 19th. Finally, Tudor, Pickering, Holt & Co. lowered Par Pacific from a buy rating to a hold rating in a research report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific presently has an average rating of Hold and an average price target of $28.00.

Par Pacific Stock Up 2.1 %

PARR stock opened at $18.24 on Wednesday. The stock has a 50-day simple moving average of $20.53 and a two-hundred day simple moving average of $25.70. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. Par Pacific has a twelve month low of $17.06 and a twelve month high of $40.69. The firm has a market capitalization of $1.03 billion, a PE ratio of 2.33 and a beta of 1.98.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. Par Pacific’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, equities analysts predict that Par Pacific will post 1.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

A number of large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of Par Pacific in the first quarter worth $978,000. Hennessy Advisors Inc. grew its stake in shares of Par Pacific by 18.7% in the first quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after purchasing an additional 134,600 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new stake in shares of Par Pacific in the fourth quarter worth about $1,637,000. Russell Investments Group Ltd. increased its holdings in Par Pacific by 14.9% during the 1st quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock valued at $7,579,000 after purchasing an additional 26,485 shares during the period. Finally, Quantbot Technologies LP bought a new position in Par Pacific during the 1st quarter valued at approximately $2,156,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.