Par Pacific (NYSE:PARR) Given New $26.00 Price Target at Piper Sandler

Par Pacific (NYSE:PARR) had its price target lifted by Piper Sandler from $21.00 to $26.00 in a research report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts have also commented on the stock. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and upped their target price for the company from $18.00 to $19.00 in a research report on Thursday, March 27th. UBS Group reduced their price objective on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, Raymond James initiated coverage on shares of Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.39.

Par Pacific Trading Up 2.2 %

PARR opened at $17.91 on Thursday. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $973.43 million, a P/E ratio of 3.47 and a beta of 1.50. Par Pacific has a 12 month low of $11.86 and a 12 month high of $29.61. The firm’s fifty day simple moving average is $14.05 and its 200 day simple moving average is $15.67.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.54). The company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.49 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. As a group, research analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Institutional Trading of Par Pacific

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Par Pacific by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company’s stock valued at $14,902,000 after purchasing an additional 167,594 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Par Pacific by 126.2% during the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company’s stock valued at $843,000 after acquiring an additional 27,480 shares during the last quarter. Barclays PLC grew its holdings in Par Pacific by 10.1% during the 3rd quarter. Barclays PLC now owns 469,640 shares of the company’s stock worth $8,265,000 after acquiring an additional 42,930 shares during the period. Yorktown Management & Research Co Inc bought a new position in shares of Par Pacific in the 4th quarter worth about $415,000. Finally, Empowered Funds LLC raised its position in shares of Par Pacific by 5.1% in the 4th quarter. Empowered Funds LLC now owns 313,768 shares of the company’s stock worth $5,143,000 after acquiring an additional 15,240 shares in the last quarter. Institutional investors 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.