Mizuho Trims Par Pacific (NYSE:PARR) Target Price to $26.00

by · The Cerbat Gem

Par Pacific (NYSE:PARR – Free Report) had its target price decreased by Mizuho from $28.00 to $26.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group dropped their target price on shares of Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a report on Monday, August 19th. TD Cowen dropped their price target on Par Pacific from $36.00 to $32.00 and set a buy rating on the stock in a research report on Friday, August 9th. Piper Sandler downgraded Par Pacific from an overweight rating to a neutral rating and cut their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. The Goldman Sachs Group lowered their price objective 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. Finally, Tudor, Pickering, Holt & Co. downgraded Par Pacific from a buy rating to a hold rating in a report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $28.00.

Get Our Latest Stock Analysis on PARR

Par Pacific Price Performance

PARR stock opened at $18.24 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. Par Pacific has a 1 year low of $17.06 and a 1 year high of $40.69. The firm has a 50-day moving average of $20.53 and a 200 day moving average of $25.70. The company has a market cap of $1.03 billion, a P/E ratio of 2.33 and a beta of 1.98.

Par Pacific (NYSE:PARR – Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share 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 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 business’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.73 EPS. On average, sell-side analysts forecast that Par Pacific will post 1.19 EPS for the current year.

Institutional Investors Weigh In On Par Pacific

Several institutional investors have recently modified their holdings of PARR. Headlands Technologies LLC lifted its stake in 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 during the period. Meeder Asset Management Inc. bought a new position in Par Pacific during the second quarter valued at approximately $43,000. Quarry LP lifted its position in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the period. nVerses Capital LLC boosted its holdings in 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 stake in Par Pacific in the 2nd quarter worth approximately $104,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Company Profile

(Get Free Report)

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.

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