Par Pacific (NYSE:PARR) Price Target Raised to $58.00 at Mizuho
by Sarita Garza · The Markets DailyPar Pacific (NYSE:PARR – Get Free Report) had its target price upped by equities researchers at Mizuho from $49.00 to $58.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price target would suggest a potential upside of 9.65% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. Piper Sandler set a $57.00 target price on shares of Par Pacific in a research note on Monday, January 12th. The Goldman Sachs Group upped their target price on shares of Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a research note on Thursday, March 12th. Raymond James Financial reaffirmed an “outperform” rating and set a $50.00 price objective on shares of Par Pacific in a research report on Wednesday, February 25th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.00.
Check Out Our Latest Report on PARR
Par Pacific Price Performance
Shares of NYSE PARR traded down $0.23 during mid-day trading on Tuesday, reaching $52.90. The company’s stock had a trading volume of 630,041 shares, compared to its average volume of 1,231,091. The stock has a 50-day moving average of $41.49 and a two-hundred day moving average of $39.54. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The stock has a market capitalization of $2.59 billion, a P/E ratio of 7.26 and a beta of 1.16. Par Pacific has a 1-year low of $12.04 and a 1-year high of $55.31.
Par Pacific (NYSE:PARR – Get Free Report) last posted its quarterly 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). The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.During the same quarter in the previous year, the firm posted ($0.79) earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. On average, equities research analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Federated Hermes Inc. purchased a new stake in Par Pacific during the third quarter worth approximately $44,000. Aster Capital Management DIFC Ltd purchased a new position in Par Pacific in the third quarter valued at approximately $48,000. Nisa Investment Advisors LLC lifted its position in shares of Par Pacific by 16.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after buying an additional 259 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Par Pacific by 385.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after buying an additional 1,558 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Par Pacific in the 3rd quarter valued at $82,000. 92.15% of the stock is owned by institutional investors and hedge funds.
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.