Par Pacific (NYSE:PARR) Price Target Cut to $32.00

Par Pacific (NYSE:PARR) had its price target decreased by analysts at The Goldman Sachs Group from $37.00 to $32.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 19.23% from the company’s previous close.

PARR has been the subject of several other research reports. TD Cowen decreased their price target on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Mizuho started coverage on shares of Par Pacific in a research report on Wednesday, July 17th. They issued an “outperform” rating and a $33.00 price target for the company. Piper Sandler decreased their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $35.17.

Par Pacific Trading Up 2.6 %

Shares of NYSE:PARR traded up $0.67 during mid-day trading on Wednesday, reaching $26.84. 168,280 shares of the company were exchanged, compared to its average volume of 811,327. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.28 and a quick ratio of 0.50. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 3.36 and a beta of 2.01. The firm’s 50-day simple moving average is $25.08 and its 200 day simple moving average is $31.61. Par Pacific has a 1 year low of $22.77 and a 1 year high of $40.69.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. The company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Equities research analysts forecast that Par Pacific will post 1.5 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in Par Pacific by 0.6% during 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. Goldman Sachs Group Inc. raised its stake in Par Pacific by 28.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock worth $44,635,000 after acquiring an additional 268,219 shares in the last quarter. Hennessy Advisors Inc. raised its stake in Par Pacific by 18.7% during the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after acquiring an additional 134,600 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in Par Pacific by 2.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company’s stock worth $24,010,000 after acquiring an additional 16,653 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Par Pacific by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock valued at $23,473,000 after purchasing an additional 9,650 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.