Par Pacific (NYSE:PARR) PT Lowered to $42.00

Par Pacific (NYSE:PARR) had its price objective reduced by analysts at TD Cowen from $45.00 to $42.00 in a report released on Wednesday, Briefing.com reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price target points to a potential upside of 41.08% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler lifted their price objective on shares of Par Pacific from $43.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. StockNews.com cut shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $40.25.

Par Pacific Stock Performance

NYSE PARR opened at $29.77 on Wednesday. The company has a fifty day simple moving average of $35.37 and a 200 day simple moving average of $35.20. Par Pacific has a 12-month low of $20.30 and a 12-month high of $40.69. The company has a current ratio of 1.30, a quick ratio of 0.54 and a debt-to-equity ratio of 0.49. The company has a market cap of $1.77 billion, a P/E ratio of 2.49 and a beta of 1.98.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 27th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). Par Pacific had a net margin of 8.85% and a return on equity of 47.63%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.45 billion. Sell-side analysts predict that Par Pacific will post 4.56 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 4,700 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total value of $175,733.00. Following the completion of the transaction, the insider now directly owns 13,176 shares of the company’s stock, valued at approximately $492,650.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO Ivan Daniel Guerra sold 6,000 shares of Par Pacific stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the sale, the chief accounting officer now directly owns 16,200 shares of the company’s stock, valued at approximately $607,338. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 4,700 shares of Par Pacific stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $175,733.00. Following the sale, the insider now directly owns 13,176 shares of the company’s stock, valued at $492,650.64. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds have recently made changes to their positions in PARR. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Par Pacific during the 4th quarter worth $30,000. Quadrant Capital Group LLC raised its position in Par Pacific by 91.4% in 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. Quantbot Technologies LP purchased a new position in Par Pacific in the 3rd quarter worth $40,000. CIBC Asset Management Inc purchased a new position in Par Pacific in the 3rd quarter worth $214,000. Finally, Navellier & Associates Inc. purchased a new position in Par Pacific in the 4th quarter worth $221,000. 92.15% of the stock is owned by institutional investors.

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.