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

Par Pacific (NYSE:PARR) had its price objective upped by Mizuho from $49.00 to $58.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the stock.

PARR has been the topic of several other research reports. Piper Sandler set a $57.00 price target on shares of Par Pacific in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Raymond James Financial reissued an “outperform” rating and set a $50.00 price target on shares of Par Pacific in a report on Wednesday, February 25th. Finally, The Goldman Sachs Group upped their price target on Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.00.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $52.85 on Tuesday. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2.59 billion, a PE ratio of 7.25 and a beta of 1.16. The firm’s 50 day moving average price is $41.83 and its 200-day moving average price is $39.67. Par Pacific has a twelve month low of $12.04 and a twelve month high of $55.31.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted ($0.79) earnings per share. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. Equities research analysts expect that Par Pacific will post 0.15 EPS for the current year.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Par Pacific

Several institutional investors have recently bought and sold shares of PARR. Vanguard Group Inc. boosted its position in Par Pacific by 30.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after acquiring an additional 1,190,088 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock worth $62,363,000 after purchasing an additional 7,280 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Par Pacific by 0.5% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company’s stock valued at $62,044,000 after purchasing an additional 9,470 shares in the last quarter. American Century Companies Inc. boosted its position in Par Pacific by 42.8% during the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock valued at $53,923,000 after purchasing an additional 456,473 shares in the last quarter. Finally, Encompass Capital Advisors LLC purchased a new position in Par Pacific in the second quarter valued at about $34,609,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.