Mizuho Cuts Par Pacific (NYSE:PARR) Price Target to $28.00

Par Pacific (NYSE:PARR) had its price objective reduced by Mizuho from $30.00 to $28.00 in a report released on Monday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group dropped their price target on Par Pacific from $37.00 to $32.00 and set a neutral rating for the company in a research note on Wednesday, July 31st. Tudor Pickering upgraded shares of Par Pacific to a hold rating in a research report on Monday, September 9th. JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $38.00 to $36.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. UBS Group decreased their price objective on shares of Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a research note on Monday, August 19th. Finally, TD Cowen cut their target price on Par Pacific from $36.00 to $32.00 and set a buy rating for the company in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $32.33.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $18.95 on Monday. Par Pacific has a 12-month low of $18.00 and a 12-month high of $40.69. The company’s 50 day moving average price is $22.82 and its two-hundred day moving average price is $28.03. The firm has a market cap of $1.07 billion, a PE ratio of 2.37 and a beta of 1.99. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.73 earnings per share. Equities research analysts predict that Par Pacific will post 2.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PARR. Headlands Technologies LLC boosted its holdings in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after purchasing an additional 458 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Par Pacific during the second quarter worth about $43,000. Quarry LP grew its holdings in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares during the last quarter. Finally, nVerses Capital LLC increased its stake in shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.