JPMorgan Chase & Co. Boosts Par Pacific (NYSE:PARR) Price Target to $17.00

Par Pacific (NYSE:PARRGet Rating) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $16.00 to $17.00 in a report issued on Tuesday, The Fly reports. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 11.26% from the stock’s previous close.

Several other brokerages also recently issued reports on PARR. StockNews.com assumed coverage on shares of Par Pacific in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. Zacks Investment Research upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Wednesday, March 16th.

NYSE:PARR opened at $15.28 on Tuesday. Par Pacific has a 12 month low of $11.66 and a 12 month high of $18.05. The firm has a market cap of $918.63 million, a price-to-earnings ratio of -5.79 and a beta of 2.26. The company has a quick ratio of 0.24, a current ratio of 0.80 and a debt-to-equity ratio of 4.64. The company’s 50 day moving average is $13.80 and its 200-day moving average is $14.46.

Par Pacific (NYSE:PARRGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.27). Par Pacific had a negative net margin of 3.02% and a negative return on equity of 23.23%. During the same quarter in the prior year, the business posted ($1.55) earnings per share. Research analysts predict that Par Pacific will post 1.52 EPS for the current fiscal year.

In other news, major shareholder Chai Trust Co Llc sold 15,323 shares of the firm’s stock in a transaction on Monday, March 21st. The shares were sold at an average price of $12.20, for a total value of $186,940.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 1,231,599 shares of company stock worth $17,871,932. 4.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of PARR. Captrust Financial Advisors boosted its stake in Par Pacific by 53.3% during the first quarter. Captrust Financial Advisors now owns 5,181 shares of the company’s stock worth $67,000 after buying an additional 1,801 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Par Pacific by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock valued at $98,000 after purchasing an additional 854 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Par Pacific by 142.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,509 shares of the company’s stock valued at $157,000 after purchasing an additional 5,586 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Par Pacific in the 4th quarter valued at $165,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Par Pacific in the 3rd quarter valued at $184,000. Hedge funds and other institutional investors own 85.79% of the company’s stock.

Par Pacific Company Profile (Get Rating)

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.

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