Par Pacific (NYSE:PARR) Stock Price Expected to Rise, Piper Sandler Analyst Says

Par Pacific (NYSE:PARR) had its price objective boosted by research analysts at Piper Sandler from $26.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 8.54% from the company’s previous close.

Several other equities analysts have also commented on PARR. The Goldman Sachs Group lowered Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Wednesday, May 28th. Raymond James Financial raised their price target on Par Pacific from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday, June 30th. Mizuho raised their price target on Par Pacific from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. UBS Group dropped their price objective on Par Pacific from $20.00 to $14.75 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Finally, Wall Street Zen downgraded Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Par Pacific presently has an average rating of “Hold” and a consensus price target of $25.54.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $35.01 on Thursday. The firm has a market cap of $1.81 billion, a P/E ratio of -30.98 and a beta of 1.73. The company has a current ratio of 1.56, a quick ratio of 0.54 and a debt-to-equity ratio of 1.04. Par Pacific has a 12 month low of $11.86 and a 12 month high of $35.32. The stock’s fifty day moving average price is $23.98 and its 200-day moving average price is $18.25.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Par Pacific had a negative net margin of 0.77% and a negative return on equity of 5.87%. The business’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.69 EPS. On average, equities research analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Institutional investors have recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its holdings in Par Pacific by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after acquiring an additional 1,528 shares in the last quarter. US Bancorp DE raised its stake in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after purchasing an additional 753 shares during the last quarter. Signaturefd LLC raised its stake in shares of Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after purchasing an additional 986 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Par Pacific in the first quarter worth about $35,000. Institutional investors and hedge funds 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.