Par Pacific (NYSE:PARR) Price Target Raised to $85.00 at Mizuho

Par Pacific (NYSE:PARR) had its price objective hoisted by research analysts at Mizuho from $80.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s target price suggests a potential upside of 18.72% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings raised shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. The Goldman Sachs Group raised their price objective on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 6th. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Par Pacific Stock Up 8.0%

Shares of NYSE PARR opened at $71.60 on Tuesday. The stock has a market capitalization of $3.59 billion, a P/E ratio of 4.18 and a beta of 0.78. The firm’s 50 day simple moving average is $65.08 and its two-hundred day simple moving average is $57.59. Par Pacific has a one year low of $27.10 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the company posted $1.54 EPS. The firm’s revenue for the quarter was up 56.8% compared to the same quarter last year. As a group, analysts expect that Par Pacific will post 19.35 EPS for the current fiscal year.

Insider Activity at Par Pacific

In other news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

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

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.