JPMorgan Chase & Co. Issues Pessimistic Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 43.51% from the stock’s current price.

Other equities analysts have also issued reports about the company. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Finally, The Goldman Sachs Group lowered their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.83.

Par Pacific Trading Up 1.7 %

PARR opened at $18.12 on Thursday. The company’s 50 day moving average price is $16.79 and its two-hundred day moving average price is $19.43. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.51 and a beta of 2.00. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.15 earnings per share. As a group, research analysts predict that Par Pacific will post 1.12 earnings per share for the current year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Several hedge funds have recently bought and sold shares of the business. Commonwealth Equity Services LLC acquired a new position in Par Pacific during the second quarter worth $275,000. Massachusetts Financial Services Co. MA lifted its position in Par Pacific by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 89,494 shares of the company’s stock valued at $2,260,000 after acquiring an additional 3,005 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Par Pacific by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after purchasing an additional 17,509 shares during the last quarter. Thomist Capital Management LP increased its holdings in Par Pacific by 50.0% during the 2nd quarter. Thomist Capital Management LP now owns 559,277 shares of the company’s stock worth $13,095,000 after purchasing an additional 186,411 shares in the last quarter. Finally, Inspire Investing LLC raised its stake in shares of Par Pacific by 133.7% in the second quarter. Inspire Investing LLC now owns 22,612 shares of the company’s stock worth $571,000 after purchasing an additional 12,938 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.