Par Pacific (NYSE:PARR) PT Lowered to $29.00 at UBS Group

Par Pacific (NYSE:PARR) had its price target lowered by equities researchers at UBS Group from $40.00 to $29.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 32.78% from the stock’s current price.

A number of other equities analysts have also recently commented on PARR. Piper Sandler dropped their price objective on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Mizuho initiated coverage on shares of Par Pacific in a report on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price target for the company. TD Cowen reduced their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased 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, The Goldman Sachs Group dropped their target price on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. 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.com, Par Pacific currently has a consensus rating of “Hold” and an average target price of $33.17.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $21.84 on Monday. The firm has a market cap of $1.23 billion, a PE ratio of 2.73 and a beta of 2.00. The stock has a 50 day moving average of $24.38 and a 200 day moving average of $30.44. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. Par Pacific has a 12 month low of $21.65 and a 12 month high of $40.69.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $1.73 EPS. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. On average, research analysts expect that Par Pacific will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Quadrant Capital Group LLC boosted its stake in shares of Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after purchasing an additional 458 shares during the period. Headlands Technologies LLC increased its stake in Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after buying an additional 796 shares during the period. Meeder Asset Management Inc. bought a new stake in Par Pacific during the 2nd quarter valued at about $43,000. Quarry LP boosted its position in Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares during the period. Finally, nVerses Capital LLC grew its stake in Par Pacific by 41.7% in 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 in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.