Par Pacific (NYSE:PARR) PT Raised to $11.50 at Credit Suisse Group

Par Pacific (NYSE:PARR) had its price target raised by equities research analysts at Credit Suisse Group from $9.50 to $11.50 in a report released on Thursday. The brokerage presently has an “underperform” rating on the stock. Credit Suisse Group’s price target suggests a potential downside of 17.33% from the company’s previous close.

A number of other research analysts have also issued reports on the company. The Goldman Sachs Group lowered Par Pacific to a “neutral” rating and set a $14.00 target price on the stock. in a research report on Wednesday, December 16th. BidaskClub raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 7th. ValuEngine raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 2nd. Royal Bank of Canada reissued a “hold” rating and issued a $8.00 price target on shares of Par Pacific in a research note on Monday, September 21st. Finally, Zacks Investment Research cut shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Thursday, November 12th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has issued a buy rating and two have issued a strong buy rating to the company. Par Pacific currently has an average rating of “Hold” and a consensus target price of $15.56.

NYSE:PARR opened at $13.91 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.89 and a quick ratio of 0.36. The business has a fifty day simple moving average of $13.36. Par Pacific has a 1-year low of $5.72 and a 1-year high of $22.19. The firm has a market capitalization of $750.83 million, a price-to-earnings ratio of -2.35 and a beta of 1.95.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, November 2nd. The company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.19) by $0.13. The firm had revenue of $689.98 million during the quarter, compared to analyst estimates of $703.04 million. Par Pacific had a negative net margin of 6.89% and a negative return on equity of 11.40%. Equities research analysts forecast that Par Pacific will post -4.36 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of Par Pacific by 15.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 446,275 shares of the company’s stock valued at $4,013,000 after purchasing an additional 59,070 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Par Pacific by 126.3% in the second quarter. Nuveen Asset Management LLC now owns 760,370 shares of the company’s stock valued at $6,836,000 after purchasing an additional 424,408 shares in the last quarter. Paloma Partners Management Co purchased a new position in Par Pacific in the third quarter worth approximately $77,000. PNC Financial Services Group Inc. grew its position in Par Pacific by 19.9% in the second quarter. PNC Financial Services Group Inc. now owns 8,512 shares of the company’s stock worth $76,000 after acquiring an additional 1,414 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Par Pacific by 4.5% in the second quarter. Bank of New York Mellon Corp now owns 432,825 shares of the company’s stock worth $3,891,000 after acquiring an additional 18,500 shares during the period. Institutional investors and hedge funds own 92.96% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. The company operates in three segments: Refining, Retail, and Logistics. The Refining segment operates four refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.

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Analyst Recommendations for Par Pacific (NYSE:PARR)

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