Raymond James Financial Forecasts Strong Price Appreciation for Par Pacific (NYSE:PARR) Stock

Par Pacific (NYSE:PARR - Free Report) had its price target lifted by Raymond James Financial from $25.00 to $30.00 in a research note published on Monday,Benzinga reports. Raymond James Financial currently has an outperform rating on the stock.

A number of other analysts also recently commented on the stock. Piper Sandler boosted their price target on shares of Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Wall Street Zen downgraded Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Mizuho raised 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 lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a research report on Wednesday, May 28th. Finally, UBS Group reduced their price objective on Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.96.

Par Pacific Stock Up 4.3%

Shares of PARR stock traded up $1.30 during mid-day trading on Monday, reaching $31.13. 1,762,031 shares of the company were exchanged, compared to its average volume of 1,210,911. The company has a market capitalization of $1.61 billion, a P/E ratio of -27.54 and a beta of 1.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $32.22. The business's 50 day simple moving average is $21.45 and its 200 day simple moving average is $17.43.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly 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 company had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period last year, the business posted $0.69 EPS. The company's revenue for the quarter was down 11.9% on a year-over-year basis. Research analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. Jane Street Group LLC boosted its holdings in shares of Par Pacific by 352.7% in the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock worth $3,862,000 after acquiring an additional 211,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company's stock worth $2,085,000 after acquiring an additional 6,618 shares during the last quarter. Empowered Funds LLC raised its position in shares of Par Pacific by 3.7% during the first quarter. Empowered Funds LLC now owns 325,394 shares of the company's stock worth $4,640,000 after acquiring an additional 11,626 shares during the last quarter. Petrus Trust Company LTA bought a new stake in Par Pacific during the 1st quarter worth about $792,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company's stock worth $461,000 after purchasing an additional 1,427 shares during the last quarter. 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.