Mizuho Issues Positive Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price objective upped by Mizuho from $45.00 to $49.00 in a report published on Friday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

A number of other analysts also recently issued reports on PARR. Tudor, Pickering, Holt & Co. raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. UBS Group increased their price target on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. The Goldman Sachs Group lifted their price objective on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Par Pacific Stock Down 3.0%

PARR stock opened at $40.64 on Friday. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 8.55 and a beta of 1.25. The business’s fifty day moving average price is $40.84 and its two-hundred day moving average price is $34.04.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The company had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter in the previous year, the business posted ($0.10) earnings per share. Par Pacific’s quarterly revenue was down 6.1% on a year-over-year basis. On average, equities analysts anticipate that Par Pacific will post 0.15 earnings per share for the current year.

Insider Activity

In other news, CEO William Monteleone sold 99,284 shares of Par Pacific stock in a transaction on Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the transaction, the chief executive officer owned 423,022 shares in the company, valued at approximately $18,253,399.30. This trade represents a 19.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy Clossey sold 2,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $33.37, for a total value of $66,740.00. Following the sale, the director owned 84,000 shares of the company’s stock, valued at approximately $2,803,080. This represents a 2.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 117,132 shares of company stock worth $5,004,099. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. grew its holdings in shares of Par Pacific by 54.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company’s stock valued at $117,000 after purchasing an additional 2,884 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Par Pacific by 32.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock valued at $17,194,000 after buying an additional 296,536 shares in the last quarter. Invesco Ltd. grew its stake in shares of Par Pacific by 6.2% during the first quarter. Invesco Ltd. now owns 1,157,058 shares of the company’s stock worth $16,500,000 after buying an additional 67,481 shares during the last quarter. Nuveen LLC acquired a new position in shares of Par Pacific during the first quarter worth $12,750,000. Finally, Public Sector Pension Investment Board lifted its stake in shares of Par Pacific by 11.3% in the 1st quarter. Public Sector Pension Investment Board now owns 376,482 shares of the company’s stock valued at $5,369,000 after acquiring an additional 38,083 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Company Profile

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.