Par Pacific (NYSE:PARR) Price Target Cut to $36.00

Par Pacific (NYSE:PARR) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $38.00 to $36.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 39.64% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. TD Cowen cut their price target on Par Pacific from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. Finally, Piper Sandler cut their price target on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.20.

Par Pacific Stock Up 0.3 %

NYSE:PARR opened at $25.78 on Tuesday. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 3.23 and a beta of 2.01. Par Pacific has a one year low of $23.78 and a one year high of $40.69. The stock has a 50-day simple moving average of $27.19 and a 200 day simple moving average of $33.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.50 and a current ratio of 1.28.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. Sell-side analysts predict that Par Pacific will post 2.92 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Par Pacific during the 4th quarter valued at $30,000. Quadrant Capital Group LLC lifted its stake in shares of Par Pacific by 91.4% in the 4th 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 last quarter. EntryPoint Capital LLC acquired a new stake in shares of Par Pacific in the 1st quarter valued at $157,000. Navellier & Associates Inc. acquired a new stake in shares of Par Pacific in the 4th quarter valued at $221,000. Finally, Range Financial Group LLC lifted its stake in shares of Par Pacific by 9.8% in the 1st quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after purchasing an additional 608 shares during the last quarter. 92.15% of the stock is currently 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.