Mizuho Forecasts Strong Price Appreciation for Par Pacific (NYSE:PARR) Stock

Par Pacific (NYSE:PARR) had its target price hoisted by research analysts at Mizuho from $40.00 to $45.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s target price suggests a potential upside of 9.98% from the stock’s previous close.

A number of other brokerages also recently commented on PARR. UBS Group lifted their price target on shares of Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Piper Sandler lifted their target price on shares of Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. TD Cowen decreased their price objective on Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Tudor Pickering upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Par Pacific Stock Performance

NYSE PARR opened at $40.92 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $44.52. The business has a fifty day moving average of $36.92 and a 200-day moving average of $30.14. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -146.13 and a beta of 1.74.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company earned ($0.10) earnings per share. The business’s revenue for the quarter was down 6.1% compared to the same quarter last year. As a group, analysts predict that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 5,228 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total transaction of $180,627.40. Following the completion of the sale, the insider owned 24,679 shares of the company’s stock, valued at approximately $852,659.45. The trade was a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy Clossey sold 2,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $33.37, for a total value of $66,740.00. Following the sale, the director owned 84,000 shares of the company’s stock, valued at $2,803,080. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 36,638 shares of company stock worth $1,371,866. 4.40% of the stock is currently owned by company insiders.

Institutional Trading of Par Pacific

A number of institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after purchasing an additional 753 shares in the last quarter. Signaturefd LLC grew its stake in Par Pacific by 70.2% during the first quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after buying an additional 986 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Par Pacific in the first quarter worth $35,000. Parallel Advisors LLC raised its stake in shares of Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock valued at $35,000 after acquiring an additional 927 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Par Pacific by 157.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after acquiring an additional 976 shares during the period. 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.