Par Pacific (NYSE:PARR) PT Lowered to $28.00 at Mizuho

Par Pacific (NYSE:PARR) had its price target reduced by research analysts at Mizuho from $30.00 to $28.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 51.35% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Piper Sandler lowered their price objective on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. lowered their price objective on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Finally, UBS Group decreased their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.33.

Par Pacific Stock Performance

Shares of PARR stock traded down $0.20 during trading hours on Monday, hitting $18.50. 27,387 shares of the company were exchanged, compared to its average volume of 841,881. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 2.33 and a beta of 1.99. The firm has a fifty day simple moving average of $22.93 and a 200 day simple moving average of $28.15. 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 52-week low of $18.00 and a 52-week high of $40.69.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm earned $1.73 EPS. Par Pacific’s revenue for the quarter was up 13.1% on a year-over-year basis. Research analysts predict that Par Pacific will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its holdings 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 acquiring an additional 458 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in Par Pacific by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock valued at $721,000 after purchasing an additional 563 shares in the last quarter. Range Financial Group LLC raised its holdings in Par Pacific by 9.8% in the first quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock worth $253,000 after buying an additional 608 shares during the last quarter. Simplicity Wealth LLC lifted its stake in shares of Par Pacific by 5.1% in the second quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock worth $352,000 after buying an additional 677 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of Par Pacific by 1.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock valued at $1,108,000 after buying an additional 703 shares during 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.