Par Pacific (NYSE:PARR) Given New $28.00 Price Target at Mizuho

Par Pacific (NYSE:PARR) had its price target decreased by Mizuho from $30.00 to $28.00 in a report released on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 51.35% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. UBS Group lowered their price objective on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. TD Cowen decreased their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. The Goldman Sachs Group cut their price target on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Tudor Pickering raised shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Par Pacific currently has an average rating of “Hold” and a consensus target price of $32.33.

Par Pacific Price Performance

Shares of PARR traded down $0.20 during mid-day trading on Monday, reaching $18.50. The stock had a trading volume of 27,387 shares, compared to its average volume of 841,881. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. Par Pacific has a 12 month low of $18.00 and a 12 month high of $40.69. The business has a fifty day moving average of $22.93 and a 200 day moving average of $28.15. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 2.33 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. Par Pacific’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 earnings per share. Equities analysts predict that Par Pacific will post 2.01 EPS for the current year.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in shares of Par Pacific by 20.2% during the 4th quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock valued at $904,000 after purchasing an additional 4,184 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Par Pacific by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock valued at $23,473,000 after purchasing an additional 9,650 shares during the period. Dimensional Fund Advisors LP lifted its position in Par Pacific by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock valued at $77,589,000 after purchasing an additional 12,777 shares during the period. Janney Montgomery Scott LLC boosted its holdings in Par Pacific by 473.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock valued at $1,730,000 after purchasing an additional 39,263 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

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.