Mizuho Forecasts Strong Price Appreciation for Par Pacific (NYSE:PARR) Stock

Par Pacific (NYSE:PARR - Get Free Report) had its target price raised by equities research analysts at Mizuho from $21.00 to $34.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Mizuho's price target suggests a potential downside of 2.74% from the stock's previous close.

PARR has been the subject of several other research reports. Raymond James Financial increased their price objective on shares of Par Pacific from $25.00 to $30.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. UBS Group lowered their price target on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Wall Street Zen lowered shares of Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, June 6th. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Wednesday, May 28th. Finally, Piper Sandler raised their price target on shares of Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Par Pacific has an average rating of "Hold" and an average price target of $25.54.

Par Pacific Trading Up 0.9%

NYSE PARR traded up $0.33 during mid-day trading on Friday, reaching $34.96. 604,357 shares of the stock were exchanged, compared to its average volume of 1,217,422. Par Pacific has a 1-year low of $11.86 and a 1-year high of $35.31. The business's fifty day simple moving average is $23.57 and its 200 day simple moving average is $18.12. The stock has a market capitalization of $1.80 billion, a PE ratio of -30.89 and a beta of 1.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.94) earnings per share 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 analysts' expectations of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, research analysts anticipate that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new position in Par Pacific during the 2nd quarter worth $443,000. Parallel Advisors LLC boosted its holdings in shares of Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock valued at $35,000 after buying an additional 927 shares during the period. Jane Street Group LLC boosted its holdings in shares of Par Pacific by 352.7% in the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock valued at $3,862,000 after buying an additional 211,002 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Par Pacific by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company's stock valued at $2,085,000 after buying an additional 6,618 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Par Pacific by 3.7% in the 1st quarter. Empowered Funds LLC now owns 325,394 shares of the company's stock valued at $4,640,000 after buying an additional 11,626 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

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.

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