TD Cowen Raises Par Pacific (NYSE:PARR) Price Target to $48.00

Par Pacific (NYSE:PARR) had its price objective boosted by analysts at TD Cowen from $39.00 to $48.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 12.62% from the company’s current price.

A number of other analysts also recently issued reports on PARR. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price target on shares of Par Pacific in a research note on Wednesday. Piper Sandler set a $57.00 price objective on Par Pacific in a report on Monday, January 12th. UBS Group increased their price objective on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.33.

Par Pacific Stock Performance

NYSE:PARR opened at $42.62 on Friday. The stock has a market cap of $2.09 billion, a P/E ratio of 5.85 and a beta of 1.23. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The business’s 50-day moving average price is $38.39 and its two-hundred day moving average price is $38.04. Par Pacific has a twelve month low of $11.86 and a twelve month high of $48.40.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 32.01%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the business earned ($0.79) earnings per share. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Par Pacific will post 0.15 EPS for the current fiscal year.

Institutional Trading of Par Pacific

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Par Pacific in the 3rd quarter valued at approximately $1,149,000. Creative Planning raised its holdings in Par Pacific by 43.8% in the second quarter. Creative Planning now owns 50,438 shares of the company’s stock worth $1,338,000 after purchasing an additional 15,362 shares in the last quarter. Principal Financial Group Inc. lifted its position in Par Pacific by 38.5% during the third quarter. Principal Financial Group Inc. now owns 354,439 shares of the company’s stock valued at $12,554,000 after buying an additional 98,524 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Par Pacific by 89.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after buying an additional 681,190 shares in the last quarter. Finally, Allworth Financial LP grew its position in shares of Par Pacific by 507.9% in the 2nd quarter. Allworth Financial LP now owns 50,699 shares of the company’s stock worth $1,345,000 after buying an additional 42,359 shares during the period. Institutional investors own 92.15% of the company’s stock.

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.