Piper Sandler Issues Positive Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR - Get Free Report) had its target price boosted by Piper Sandler from $26.00 to $38.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's target price indicates a potential upside of 8.54% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research note on Wednesday, May 28th. Raymond James Financial upped their price target on Par Pacific from $25.00 to $30.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Mizuho increased their price objective on Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Finally, UBS Group reduced their target price on Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.54.

Par Pacific Trading Up 1.1%

PARR traded up $0.38 on Thursday, hitting $35.01. 979,452 shares of the company were exchanged, compared to its average volume of 1,219,637. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56. The firm has a fifty day simple moving average of $23.57 and a two-hundred day simple moving average of $18.12. The stock has a market capitalization of $1.81 billion, a PE ratio of -30.98 and a beta of 1.73. Par Pacific has a 12 month low of $11.86 and a 12 month high of $35.31.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Sell-side analysts expect that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after buying an additional 753 shares in the last quarter. Parallel Advisors LLC lifted its position in Par Pacific by 232.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock valued at $35,000 after acquiring an additional 927 shares during the period. Sterling Capital Management LLC boosted its stake in Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock worth $28,000 after acquiring an additional 1,528 shares in the last quarter. US Bancorp DE grew its holdings in Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after purchasing an additional 652 shares during the period. Finally, Signaturefd LLC grew its holdings in Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.