UBS Group Issues Positive Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price objective boosted by UBS Group from $23.00 to $37.00 in a research note published on Tuesday morning, Marketbeat.com reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler lifted their target price on shares of Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Cowen reaffirmed a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Mizuho upped their target price on shares of Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Raymond James Financial upped their target price on shares of Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Par Pacific presently has an average rating of “Moderate Buy” and an average target price of $33.86.

Par Pacific Stock Up 5.4%

Par Pacific stock opened at $37.13 on Tuesday. The stock has a market capitalization of $1.89 billion, a PE ratio of -132.61 and a beta of 1.82. Par Pacific has a 12 month low of $11.86 and a 12 month high of $38.60. The business has a 50 day simple moving average of $32.18 and a 200-day simple moving average of $24.02. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. The business had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business’s revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. On average, analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Shawn David Flores sold 8,062 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the transaction, the insider owned 39,089 shares of the company’s stock, valued at $1,348,570.50. This represents a 17.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Terrill Pitkin sold 5,164 shares of the company’s stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the completion of the transaction, the senior vice president directly owned 41,223 shares in the company, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,954 shares of company stock worth $863,048. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

Several hedge funds have recently bought and sold shares of PARR. Bank of America Corp DE lifted its stake in Par Pacific by 51.3% during the 4th quarter. Bank of America Corp DE now owns 303,442 shares of the company’s stock worth $4,973,000 after acquiring an additional 102,858 shares in the last quarter. ProShare Advisors LLC lifted its stake in Par Pacific by 40.5% during the 4th quarter. ProShare Advisors LLC now owns 16,420 shares of the company’s stock worth $269,000 after acquiring an additional 4,733 shares in the last quarter. Two Sigma Investments LP acquired a new position in Par Pacific during the 4th quarter worth about $544,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Par Pacific by 9.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company’s stock valued at $2,288,000 after purchasing an additional 11,891 shares in the last quarter. Finally, GTS Securities LLC acquired a new stake in Par Pacific in the 4th quarter valued at about $276,000. Institutional investors and hedge funds 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.