Par Pacific (NYSE:PARR) Price Target Cut to $43.00

Par Pacific (NYSE:PARR - Free Report) had its price objective reduced by Piper Sandler from $47.00 to $43.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently commented on PARR. TD Cowen cut their price target on shares of Par Pacific from $45.00 to $42.00 and set a buy rating for the company in a research note on Wednesday, May 8th. StockNews.com downgraded Par Pacific from a buy rating to a hold rating in a research report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $39.25.

Par Pacific Price Performance

Shares of PARR stock traded down $0.29 during trading hours on Tuesday, reaching $28.36. The stock had a trading volume of 646,781 shares, compared to its average volume of 842,993. The stock's fifty day simple moving average is $34.48 and its 200 day simple moving average is $35.07. The firm has a market capitalization of $1.64 billion, a PE ratio of 3.55 and a beta of 1.98. Par Pacific has a 12 month low of $20.53 and a 12 month high of $40.69. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.45 billion. Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. On average, equities research analysts predict that Par Pacific will post 4.56 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Par Pacific during the fourth quarter worth $30,000. Quadrant Capital Group LLC boosted its holdings in Par Pacific by 91.4% in the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company's stock valued at $35,000 after acquiring an additional 458 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Par Pacific in the 3rd quarter valued at about $40,000. EntryPoint Capital LLC purchased a new stake in shares of Par Pacific during the 1st quarter worth about $157,000. Finally, CIBC Asset Management Inc acquired a new stake in Par Pacific during the 3rd quarter worth approximately $214,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.