TD Cowen Cuts Par Pacific (NYSE:PARR) Price Target to $17.00

Par Pacific (NYSE:PARR) had its target price trimmed by TD Cowen from $21.00 to $17.00 in a research note published on Thursday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Raymond James began coverage on shares of Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective for the company. StockNews.com raised shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.86.

Par Pacific Trading Up 2.1 %

Shares of PARR stock opened at $14.39 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The firm has a market cap of $805.26 million, a PE ratio of 2.79 and a beta of 1.99. The company has a 50-day moving average of $16.65 and a two-hundred day moving average of $17.68. Par Pacific has a 1-year low of $13.40 and a 1-year high of $40.20.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, analysts predict that Par Pacific will post 0.15 EPS for the current year.

Insider Activity at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Institutional Trading of Par Pacific

Several institutional investors and hedge funds have recently bought and sold shares of PARR. US Bancorp DE increased its stake in Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after buying an additional 652 shares during the period. Nisa Investment Advisors LLC increased its stake in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares during the period. State of Alaska Department of Revenue increased its stake in Par Pacific by 2.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after buying an additional 810 shares during the period. Martingale Asset Management L P increased its stake in Par Pacific by 1.9% in the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock valued at $849,000 after buying an additional 921 shares during the period. Finally, Inspire Investing LLC increased its stake in Par Pacific by 4.6% in the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock valued at $397,000 after buying an additional 1,066 shares during the period. 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.