UBS Group Trims Par Pacific (NYSE:PARR) Target Price to $29.00

Par Pacific (NYSE:PARR) had its price objective reduced by UBS Group from $40.00 to $29.00 in a research note published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

PARR has been the topic of a number of other research reports. Mizuho started coverage on Par Pacific in a research report on Wednesday, July 17th. They issued an outperform rating and a $33.00 target price on the stock. Piper Sandler dropped their target price on Par Pacific from $43.00 to $37.00 and set an overweight rating on the stock in a research report on Friday, June 14th. JPMorgan Chase & Co. dropped their target price 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. The Goldman Sachs Group dropped their target price on Par Pacific from $37.00 to $32.00 and set a neutral rating on the stock in a research report on Wednesday, July 31st. Finally, TD Cowen lowered their price target on Par Pacific from $36.00 to $32.00 and set a buy rating on the stock in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $33.17.

Par Pacific Trading Up 1.6 %

NYSE:PARR opened at $22.20 on Monday. Par Pacific has a fifty-two week low of $21.65 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The stock has a market capitalization of $1.29 billion, a PE ratio of 2.78 and a beta of 2.00. The business’s 50-day simple moving average is $24.32 and its 200-day simple moving average is $30.38.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the business posted $1.73 EPS. Par Pacific’s revenue for the quarter was up 13.1% on a year-over-year basis. Sell-side analysts expect that Par Pacific will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC boosted its stake in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after acquiring an additional 458 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Par Pacific during the 2nd quarter worth approximately $43,000. Quarry LP boosted its stake in shares of Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after acquiring an additional 2,027 shares during the period. Finally, nVerses Capital LLC boosted its stake in shares of Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 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.