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.
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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