Par Pacific (NYSE:PARR – Free Report) had its target price cut by TD Cowen from $36.00 to $32.00 in a report issued on Friday morning, Marketbeat.com reports. They currently have a buy rating on the stock.
PARR has been the subject of several other research reports. Mizuho initiated coverage on shares of Par Pacific in a research note on Wednesday, July 17th. They set an outperform rating and a $33.00 price target for the company. The Goldman Sachs Group reduced their price target on shares of Par Pacific from $37.00 to $32.00 and set a neutral rating for the company in a report on Wednesday, July 31st. Piper Sandler reduced their price objective 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. Finally, JPMorgan Chase & Co. reduced their price objective 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $34.50.
Read Our Latest Report on Par Pacific
Par Pacific Stock Performance
Par Pacific (NYSE:PARR – Get Free Report) last announced its 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 firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.54%. The business’s 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 EPS. On average, research analysts expect that Par Pacific will post 1.5 EPS for the current fiscal year.
Institutional Trading of Par Pacific
A number of large investors have recently made changes to their positions in PARR. Quadrant Capital Group LLC lifted its holdings in shares of Par Pacific by 91.4% in the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after buying an additional 458 shares in the last quarter. Headlands Technologies LLC increased its position in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Par Pacific during the second quarter valued at $43,000. nVerses Capital LLC grew its holdings 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 worth $86,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in shares of Par Pacific in the second quarter worth about $104,000. 92.15% of the stock is currently 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.
Read More
- Five stocks we like better than Par Pacific
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Why Wall Street Analysts Raised Price Targets for Suncor Stock
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- Is Super Micro Computer a Buy After Shares Sink 20% on Earnings?
- What is a Dividend King?
- Cassava Sciences: A Hot Stock to Trade, Invest, or Avoid?
Receive News & Ratings for Par Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Par Pacific and related companies with MarketBeat.com's FREE daily email newsletter.