Par Pacific (NYSE:PARR) Price Target Lowered to $21.00 at Cowen

Par Pacific (NYSE:PARRGet Rating) had its price objective decreased by Cowen to $21.00 in a research report report published on Tuesday morning, Stock Target Advisor reports.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler raised their price objective on shares of Par Pacific from $20.00 to $21.00 and gave the stock a neutral rating in a research note on Monday, September 12th. Credit Suisse Group raised their price objective on shares of Par Pacific to $21.00 in a report on Thursday, June 9th. StockNews.com raised shares of Par Pacific from a sell rating to a hold rating in a research report on Wednesday, August 10th. Finally, The Goldman Sachs Group lowered Par Pacific from a buy rating to a neutral rating and raised their price objective for the stock from $19.50 to $20.00 in a research note on Thursday, August 18th.

Par Pacific Stock Down 0.8 %

PARR stock opened at $16.78 on Tuesday. Par Pacific has a 12 month low of $11.66 and a 12 month high of $21.10. The company’s 50 day simple moving average is $17.42 and its 200-day simple moving average is $15.86. The firm has a market capitalization of $1.01 billion, a PE ratio of 9.87 and a beta of 2.01. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.88 and a quick ratio of 0.33.

Par Pacific (NYSE:PARRGet Rating) last announced its quarterly earnings data on Monday, August 8th. The company reported $3.31 earnings per share for the quarter, beating the consensus estimate of $1.90 by $1.41. Par Pacific had a return on equity of 85.70% and a net margin of 1.68%. The firm had revenue of $2.11 billion during the quarter, compared to analyst estimates of $1.92 billion. Equities analysts expect that Par Pacific will post 4.62 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In other news, major shareholder Chai Trust Co Llc sold 50,000 shares of the firm’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $15.59, for a total transaction of $779,500.00. Following the completion of the transaction, the insider now owns 2,677,351 shares in the company, valued at $41,739,902.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.90% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Several institutional investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas increased its position in shares of Par Pacific by 10.4% in the fourth quarter. Teacher Retirement System of Texas now owns 22,440 shares of the company’s stock valued at $370,000 after buying an additional 2,118 shares in the last quarter. Rhumbline Advisers increased its position in shares of Par Pacific by 1.1% during the fourth quarter. Rhumbline Advisers now owns 115,019 shares of the company’s stock valued at $1,897,000 after acquiring an additional 1,233 shares during the last quarter. PEAK6 Investments LLC boosted its stake in shares of Par Pacific by 58.8% in the fourth quarter. PEAK6 Investments LLC now owns 109,842 shares of the company’s stock valued at $1,811,000 after purchasing an additional 40,665 shares during the period. Public Sector Pension Investment Board boosted its stake in shares of Par Pacific by 2.4% in the fourth quarter. Public Sector Pension Investment Board now owns 93,169 shares of the company’s stock valued at $1,536,000 after purchasing an additional 2,160 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in Par Pacific in the fourth quarter worth approximately $859,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Par Pacific Company Profile

(Get Rating)

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.

Featured Stories

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.