Par Pacific (NYSE:PARR) Price Target Raised to $37.00 at UBS Group

Par Pacific (NYSE:PARR) had its target price boosted by UBS Group from $23.00 to $37.00 in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Several other research analysts have also issued reports on PARR. Zacks Research upgraded shares of Par Pacific to a “strong-buy” rating in a research report on Monday, August 11th. TD Cowen cut their target price on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Piper Sandler upped their target price on shares of Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Mizuho upped their price target on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, Raymond James Financial upped their price target on shares of Par Pacific from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

Par Pacific Stock Up 1.4%

PARR opened at $37.84 on Tuesday. The company has a fifty day moving average price of $32.38 and a 200-day moving average price of $24.28. The firm has a market capitalization of $1.92 billion, a P/E ratio of -135.14 and a beta of 1.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. Par Pacific has a one year low of $11.86 and a one year high of $38.60.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the business earned $0.49 EPS. The business’s revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Jeffrey Ryan Hollis sold 5,228 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the transaction, the insider directly owned 24,679 shares of the company’s stock, valued at $852,659.45. This represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy Clossey sold 2,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $33.37, for a total transaction of $66,740.00. Following the completion of the transaction, the director directly owned 84,000 shares of the company’s stock, valued at approximately $2,803,080. The trade was a 2.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,954 shares of company stock valued at $863,048. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its stake in Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after buying an additional 753 shares in the last quarter. Parallel Advisors LLC raised its stake in Par Pacific by 232.9% in the second quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock worth $35,000 after buying an additional 927 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Par Pacific by 157.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after buying an additional 976 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after buying an additional 986 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

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.