Mizuho Raises Par Pacific (NYSE:PARR) Price Target to $40.00

Key Points

• Mizuho has raised its price target for Par Pacific (NYSE:PARR) from $34.00 to $40.00, indicating a potential upside of 18.91% from the current price.
• Various analysts have differing ratings on the stock, with Zacks Research upgrading it to a "strong-buy" while Goldman Sachs downgraded it to "neutral" with a price objective of $19.00.
• Par Pacific reported a quarterly EPS of $1.54, significantly exceeding analysts' expectations, although revenue saw a 6.2% decrease year-over-year.

Par Pacific (NYSE:PARR - Get Free Report) had its target price upped by research analysts at Mizuho from $34.00 to $40.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's target price suggests a potential upside of 18.91% from the company's current price.

A number of other research analysts also recently commented on PARR. Zacks Research raised shares of Par Pacific to a "strong-buy" rating in a research report on Monday, August 11th. The Goldman Sachs Group downgraded Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a report on Wednesday, May 28th. TD Cowen dropped their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Cowen restated a "buy" rating on shares of Par Pacific in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Par Pacific presently has a consensus rating of "Moderate Buy" and an average price target of $30.68.

Par Pacific Stock Up 2.5%

PARR traded up $0.82 on Monday, reaching $33.64. 505,269 shares of the company traded hands, compared to its average volume of 1,416,730. The stock's 50 day moving average price is $31.92 and its 200-day moving average price is $23.01. Par Pacific has a 52-week low of $11.86 and a 52-week high of $36.39. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -120.62 and a beta of 1.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the firm posted $0.49 earnings per share. The firm's revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts expect that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Transactions at Par Pacific

In related news, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the completion of the transaction, the insider directly owned 39,089 shares of the company's stock, valued at $1,348,570.50. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the transaction, the insider directly owned 24,679 shares of the company's stock, valued at approximately $852,659.45. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,954 shares of company stock valued at $796,308 in the last ninety days. 4.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Osaic Holdings Inc. raised its stake in Par Pacific by 19.7% during the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company's stock worth $154,000 after acquiring an additional 961 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Par Pacific in the second quarter valued at $2,834,000. Caxton Associates LLP acquired a new stake in shares of Par Pacific in the second quarter valued at $3,429,000. Tower Research Capital LLC TRC increased its stake in shares of Par Pacific by 70.5% in the second quarter. Tower Research Capital LLC TRC now owns 12,134 shares of the company's stock valued at $322,000 after buying an additional 5,018 shares in the last quarter. Finally, Ion Asset Management Ltd. acquired a new stake in shares of Par Pacific in the second quarter valued at $838,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Company Profile

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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