TD Cowen Issues Pessimistic Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its target price reduced by investment analysts at TD Cowen from $100.00 to $95.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price objective indicates a potential upside of 38.09% from the company’s previous close.

A number of other brokerages have also commented on PARR. UBS Group lifted their price target on shares of Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. The Goldman Sachs Group lifted their target price on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Evercore upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Raymond James Financial upped their target price on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.86.

Par Pacific Price Performance

Par Pacific stock opened at $68.79 on Friday. The stock has a 50-day moving average price of $64.59 and a two-hundred day moving average price of $57.13. Par Pacific has a 12 month low of $26.88 and a 12 month high of $87.03. The company has a market capitalization of $3.45 billion, a PE ratio of 4.01 and a beta of 0.78. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. Par Pacific had a return on equity of 61.03% and a net margin of 9.94%.The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the firm posted $1.54 earnings per share. The firm’s revenue was up 56.8% compared to the same quarter last year. Analysts expect that Par Pacific will post 18.6 EPS for the current year.

Institutional Trading of Par Pacific

Several large investors have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in shares of Par Pacific in the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC boosted its stake in Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after acquiring an additional 173 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after acquiring an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after purchasing an additional 478 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after purchasing an additional 1,558 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.