Par Pacific (NYSE:PARR) Price Target Cut to $17.00 by Analysts at TD Cowen

Par Pacific (NYSE:PARR) had its price target cut by TD Cowen from $21.00 to $17.00 in a report issued on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on PARR. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price on the stock. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. The Goldman Sachs Group cut their price objective on Par Pacific from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.86.

Par Pacific Price Performance

Shares of PARR opened at $14.12 on Thursday. Par Pacific has a one year low of $13.40 and a one year high of $40.20. The stock’s fifty day moving average is $16.67 and its 200-day moving average is $17.78. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The firm has a market capitalization of $789.82 million, a price-to-earnings ratio of 2.74 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. Equities analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

Insider Activity at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PARR. Creative Planning boosted its stake in Par Pacific by 246.2% in the 3rd quarter. Creative Planning now owns 33,014 shares of the company’s stock worth $581,000 after purchasing an additional 23,478 shares during the period. Private Advisor Group LLC grew its holdings in shares of Par Pacific by 60.4% during the third quarter. Private Advisor Group LLC now owns 21,213 shares of the company’s stock valued at $373,000 after buying an additional 7,987 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Par Pacific by 2.6% during the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after buying an additional 810 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Par Pacific by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock valued at $929,000 after buying an additional 1,226 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its stake in Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after acquiring an additional 315,967 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.