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

by · The Markets Daily

Par Pacific (NYSE:PARR – Free Report) had its price objective upped by TD Cowen from $39.00 to $48.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the stock.

Several other equities analysts have also weighed in on PARR. Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Mizuho boosted their target price on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. UBS Group increased their price target on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Piper Sandler set a $57.00 price objective on Par Pacific in a report on Monday, January 12th. Finally, Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $47.33.

Check Out Our Latest Stock Analysis on Par Pacific

Par Pacific Trading Up 4.9%

PARR traded up $1.99 during trading on Friday, hitting $42.62. The company’s stock had a trading volume of 1,251,663 shares, compared to its average volume of 968,431. The firm has a market capitalization of $2.09 billion, a P/E ratio of 5.85 and a beta of 1.23. Par Pacific has a twelve month low of $11.86 and a twelve month high of $48.40. The stock’s fifty day moving average price is $38.39 and its 200-day moving average price is $37.97. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR – Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 earnings per share 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 32.01%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned ($0.79) EPS. The business’s revenue was down 1.0% compared to the same quarter last year. Analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in Par Pacific during the third quarter worth $44,000. Aster Capital Management DIFC Ltd purchased a new position in Par Pacific during the 3rd quarter worth $48,000. Nisa Investment Advisors LLC grew its stake in shares of Par Pacific by 157.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after acquiring an additional 976 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Par Pacific in the 3rd quarter worth $82,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

(Get Free Report)

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.

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