Piper Sandler Has Lowered Expectations for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price target trimmed by Piper Sandler from $25.00 to $21.00 in a report issued on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also issued reports on PARR. JPMorgan Chase & Co. lowered their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Raymond James began coverage on Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective for the company. TD Cowen lowered their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com lowered Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, The Goldman Sachs Group lowered their price objective on Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.57.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $13.22 on Friday. The firm has a market capitalization of $723.93 million, a PE ratio of 2.56 and a beta of 2.01. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The business has a 50-day moving average of $16.39 and a two-hundred day moving average of $17.42. Par Pacific has a 12 month low of $11.86 and a 12 month high of $40.20.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.68 billion. As a group, research analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after buying an additional 652 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Par Pacific by 2.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock worth $565,000 after purchasing an additional 810 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Par Pacific by 1.9% in the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after purchasing an additional 921 shares during the last quarter. Finally, Inspire Investing LLC lifted its holdings in shares of Par Pacific by 4.6% in the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after purchasing an additional 1,066 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

About Par Pacific

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.