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

Par Pacific (NYSE:PARR - Get Free Report) had its target price lifted by investment analysts at Piper Sandler from $26.00 to $38.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target indicates a potential upside of 9.73% from the stock's previous close.

A number of other equities analysts have also recently weighed in on PARR. Wall Street Zen cut shares of Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Mizuho boosted their price objective on shares of Par Pacific from $18.00 to $21.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. 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 report on Wednesday, May 28th. Raymond James Financial increased their price target on Par Pacific from $25.00 to $30.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Finally, UBS Group dropped their price objective on shares of 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 assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Par Pacific has an average rating of "Hold" and a consensus price target of $23.68.

Par Pacific Stock Up 5.8%

Shares of PARR traded up $1.89 during mid-day trading on Thursday, reaching $34.63. The company's stock had a trading volume of 1,271,013 shares, compared to its average volume of 1,219,814. The company's 50 day moving average is $23.16 and its 200 day moving average is $17.99. The stock has a market cap of $1.79 billion, a PE ratio of -30.65 and a beta of 1.73. Par Pacific has a 12-month low of $11.86 and a 12-month high of $34.81. 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 (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.94) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Equities analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. acquired a new position in Par Pacific in the first quarter valued at approximately $194,000. GAMMA Investing LLC boosted its position in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after purchasing an additional 5,887 shares during the period. First Citizens Bank & Trust Co. bought a new position in Par Pacific during the 1st quarter worth $219,000. Charles Schwab Investment Management Inc. increased its position in Par Pacific by 22.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock worth $14,902,000 after buying an additional 167,594 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in Par Pacific in the fourth quarter valued at $286,000. Institutional investors 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.