Par Pacific (NYSE:PARR) Price Target Raised to $60.00
by Scott Moore · The Cerbat GemPar Pacific (NYSE:PARR – Get Free Report) had its price objective boosted by stock analysts at UBS Group from $40.00 to $60.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target would indicate a potential upside of 1.07% from the company’s current price.
PARR has been the topic of a number of other research reports. The Goldman Sachs Group raised their target price on Par Pacific from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Piper Sandler raised their target price on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Friday, March 27th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, TD Cowen raised their target price on Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 27th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.57.
Read Our Latest Stock Report on PARR
Par Pacific Stock Down 2.2%
Shares of NYSE PARR traded down $1.34 during mid-day trading on Thursday, reaching $59.37. 1,382,593 shares of the company traded hands, compared to its average volume of 1,350,742. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The stock has a market cap of $2.94 billion, a PE ratio of 8.14 and a beta of 0.97. The company’s fifty day moving average is $49.92 and its two-hundred day moving average is $42.71. Par Pacific has a fifty-two week low of $12.17 and a fifty-two week high of $67.39.
Par Pacific (NYSE:PARR – Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.79) EPS. On average, analysts expect that Par Pacific will post 0.15 earnings per share for the current year.
Insider Buying and Selling at Par Pacific
In other news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.40% of the company’s stock.
Institutional Trading of Par Pacific
Several institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Par Pacific in the 3rd quarter valued at $1,149,000. Principal Financial Group Inc. boosted its stake in Par Pacific by 38.5% in the 3rd quarter. Principal Financial Group Inc. now owns 354,439 shares of the company’s stock valued at $12,554,000 after buying an additional 98,524 shares in the last quarter. Barclays PLC boosted its stake in Par Pacific by 24.9% in the 3rd quarter. Barclays PLC now owns 705,832 shares of the company’s stock valued at $25,001,000 after buying an additional 140,514 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in Par Pacific in the 3rd quarter valued at $1,330,000. Finally, Vanguard Group Inc. boosted its stake in Par Pacific by 30.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after buying an additional 1,190,088 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.
About Par Pacific
Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.
In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.