Par Pacific (NYSE:PARR – Get Free Report) had its target price dropped by stock analysts at The Goldman Sachs Group from $37.00 to $32.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 19.23% from the stock’s current price.
PARR has been the subject of a number of other reports. Piper Sandler decreased their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. TD Cowen decreased their price objective on Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. JPMorgan Chase & Co. decreased their price objective on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Finally, Mizuho initiated coverage on Par Pacific in a report on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price objective for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $35.17.
Check Out Our Latest Stock Report on Par Pacific
Par Pacific Trading Up 2.6 %
Par Pacific (NYSE:PARR – Get Free Report) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.06). Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. The business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.12 billion. As a group, equities research analysts expect that Par Pacific will post 1.5 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Par Pacific
Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake 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 purchasing an additional 458 shares during the last quarter. Innealta Capital LLC purchased a new position in Par Pacific in the second quarter valued at approximately $104,000. EntryPoint Capital LLC purchased a new position in Par Pacific in the first quarter valued at approximately $157,000. Navellier & Associates Inc. purchased a new position in Par Pacific in the fourth quarter valued at approximately $221,000. Finally, PNC Financial Services Group Inc. lifted its stake in Par Pacific by 17.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock valued at $252,000 after purchasing an additional 1,024 shares during the last quarter. Hedge funds and other 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.
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