Par Pacific (NYSE:PARR) Price Target Raised to $47.00 at Piper Sandler

Par Pacific (NYSE:PARR - Get Free Report) had its price target upped by equities research analysts at Piper Sandler from $43.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target would indicate a potential upside of 19.02% from the company's previous close.

Separately, StockNews.com cut Par Pacific from a "buy" rating to a "hold" rating in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Par Pacific presently has a consensus rating of "Hold" and a consensus target price of $36.75.

Par Pacific Stock Performance

Shares of PARR traded up $0.68 during mid-day trading on Friday, reaching $39.49. The company's stock had a trading volume of 540,598 shares, compared to its average volume of 867,079. Par Pacific has a 1-year low of $20.30 and a 1-year high of $40.69. The stock has a market cap of $2.34 billion, a P/E ratio of 3.30 and a beta of 1.95. The business has a 50-day simple moving average of $37.75 and a two-hundred day simple moving average of $35.33. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). Par Pacific had a net margin of 8.85% and a return on equity of 47.63%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.45 billion. As a group, equities research analysts anticipate that Par Pacific will post 5.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 4,700 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $175,733.00. Following the transaction, the insider now owns 13,176 shares in the company, valued at approximately $492,650.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Par Pacific news, CAO Ivan Daniel Guerra sold 6,000 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.49, for a total transaction of $224,940.00. Following the transaction, the chief accounting officer now owns 16,200 shares in the company, valued at approximately $607,338. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 4,700 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $175,733.00. Following the transaction, the insider now owns 13,176 shares in the company, valued at approximately $492,650.64. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kennedy Capital Management LLC increased its stake in shares of Par Pacific by 2.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 12,235 shares of the company's stock valued at $440,000 after purchasing an additional 287 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Par Pacific by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 16,510 shares of the company's stock valued at $593,000 after purchasing an additional 309 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of Par Pacific by 4.0% in the 4th quarter. Mackenzie Financial Corp now owns 8,270 shares of the company's stock valued at $301,000 after purchasing an additional 317 shares during the last quarter. SummerHaven Investment Management LLC increased its stake in shares of Par Pacific by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 27,703 shares of the company's stock valued at $1,008,000 after purchasing an additional 324 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Par Pacific by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 24,168 shares of the company's stock valued at $879,000 after acquiring an additional 348 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

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.