Par Pacific (NYSE:PARR) Given New $38.00 Price Target at Piper Sandler

Par Pacific (NYSE:PARR - Get Free Report) had its price target boosted by stock analysts at Piper Sandler from $26.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price objective would suggest a potential upside of 8.54% from the stock's current price.

Several other equities research analysts have also issued reports on the stock. UBS Group reduced their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Raymond James Financial boosted their target price 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. Mizuho boosted their target price on shares of Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered shares of Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of "Hold" and a consensus price target of $25.54.

Par Pacific Stock Up 1.1%

Shares of PARR stock traded up $0.38 on Thursday, hitting $35.01. The company's stock had a trading volume of 1,201,030 shares, compared to its average volume of 1,221,955. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.56 and a quick ratio of 0.54. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $35.32. The firm's fifty day moving average price is $23.98 and its 200-day moving average price is $18.28. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -30.98 and a beta of 1.73.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data 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 net margin of 0.77% and a negative return on equity of 5.87%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm posted $0.69 EPS. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock valued at $30,000 after buying an additional 652 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Par Pacific by 175.9% during the second 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 during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Par Pacific by 2.7% during the first quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company's stock valued at $471,000 after buying an additional 860 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Par Pacific by 232.9% during the second 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 last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Par Pacific by 2.3% during the first quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock valued at $621,000 after buying an additional 960 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

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.