Mizuho Cuts Par Pacific (NYSE:PARR) Price Target to $28.00

Par Pacific (NYSE:PARR) had its target price reduced by Mizuho from $30.00 to $28.00 in a research report released on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the stock. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $37.00 to $32.00 and set a neutral rating on the stock in a research report on Wednesday, July 31st. TD Cowen reduced their price target on Par Pacific from $36.00 to $32.00 and set a buy rating on the stock in a report on Friday, August 9th. Piper Sandler dropped their price objective on Par Pacific from $43.00 to $37.00 and set an overweight rating for the company in a report on Friday, June 14th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a buy rating to a hold rating in a research report on Monday, September 9th. Finally, Tudor Pickering upgraded Par Pacific to a hold rating in a report on Monday, September 9th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Par Pacific has an average rating of Hold and a consensus price target of $32.33.

Par Pacific Trading Down 0.2 %

Shares of PARR stock opened at $19.37 on Monday. 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 business has a 50-day moving average of $22.66 and a 200 day moving average of $27.85. The stock has a market capitalization of $1.12 billion, a PE ratio of 2.42 and a beta of 1.99. Par Pacific has a 1-year low of $18.00 and a 1-year high of $40.69.

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 analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the firm posted $1.73 earnings per share. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Par Pacific will post 2.01 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in Par Pacific by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after purchasing an additional 4,184 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Par Pacific by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock worth $23,473,000 after acquiring an additional 9,650 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Par Pacific by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock worth $77,589,000 after acquiring an additional 12,777 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Par Pacific by 473.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock valued at $1,730,000 after acquiring an additional 39,263 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after acquiring an additional 458 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

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.