TD Cowen Cuts Par Pacific (NYSE:PARR) Price Target to $36.00

Par Pacific (NYSE:PARR) had its price target decreased by TD Cowen from $42.00 to $36.00 in a research report report published on Tuesday, MarketBeat.com reports. TD Cowen currently has a buy rating on the stock.

Several other equities analysts have also weighed in on PARR. Piper Sandler cut their target price on shares of Par Pacific from $43.00 to $37.00 and set an overweight rating for the company in a report on Friday, June 14th. StockNews.com cut shares of Par Pacific from a buy rating to a hold rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Par Pacific currently has a consensus rating of Hold and a consensus price target of $36.25.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $24.72 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49. Par Pacific has a twelve month low of $23.78 and a twelve month high of $40.69. The company’s 50 day moving average is $27.74 and its 200 day moving average is $33.36. The company has a market cap of $1.43 billion, a PE ratio of 3.09 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The company had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.12 billion. Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. On average, sell-side analysts forecast that Par Pacific will post 3.69 EPS for the current year.

Institutional Trading of Par Pacific

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. acquired a new stake in Par Pacific during the 4th quarter worth $26,128,000. Goldman Sachs Group Inc. boosted its position in Par Pacific by 28.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock worth $44,635,000 after acquiring an additional 268,219 shares during the last quarter. Thomist Capital Management LP grew its stake in Par Pacific by 176.2% during the 1st quarter. Thomist Capital Management LP now owns 372,866 shares of the company’s stock valued at $13,818,000 after acquiring an additional 237,844 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Par Pacific by 14.2% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after acquiring an additional 154,571 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Par Pacific in the 3rd quarter worth approximately $5,295,000. Hedge funds and other institutional investors 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.