Par Pacific (NYSE:PARR) PT Raised to $11.50


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Par Pacific (NYSE:PARR) had its target price hoisted by Credit Suisse Group from $9.50 to $11.50 in a research report issued on Thursday. The brokerage currently has an “underperform” rating on the stock. Credit Suisse Group’s price objective would indicate a potential downside of 17.33% from the company’s current price.

Other equities analysts have also issued reports about the company. The Goldman Sachs Group lowered Par Pacific to a “neutral” rating and set a $14.00 price objective for the company. in a report on Wednesday, December 16th. Royal Bank of Canada reissued a “hold” rating and issued a $8.00 target price on shares of Par Pacific in a research report on Monday, September 21st. BidaskClub raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 7th. ValuEngine raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Finally, Zacks Investment Research lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Thursday, November 12th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.56.

Shares of NYSE:PARR opened at $13.91 on Thursday. The business’s 50-day moving average price is $13.36. Par Pacific has a 1 year low of $5.72 and a 1 year high of $22.19. The company has a quick ratio of 0.36, a current ratio of 0.89 and a debt-to-equity ratio of 1.68. The stock has a market cap of $750.83 million, a PE ratio of -2.35 and a beta of 1.95.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, November 2nd. The company reported ($1.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.19) by $0.13. The company had revenue of $689.98 million for the quarter, compared to the consensus estimate of $703.04 million. Par Pacific had a negative return on equity of 11.40% and a negative net margin of 6.89%. Research analysts expect that Par Pacific will post -4.36 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in Par Pacific by 1.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 57,104 shares of the company’s stock worth $387,000 after acquiring an additional 965 shares during the period. PNC Financial Services Group Inc. increased its holdings in Par Pacific by 19.9% in the second quarter. PNC Financial Services Group Inc. now owns 8,512 shares of the company’s stock valued at $76,000 after purchasing an additional 1,414 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Par Pacific by 2.4% during the third quarter. California Public Employees Retirement System now owns 90,700 shares of the company’s stock worth $614,000 after buying an additional 2,100 shares during the last quarter. American International Group Inc. grew its position in shares of Par Pacific by 15.0% during the 2nd quarter. American International Group Inc. now owns 28,185 shares of the company’s stock worth $253,000 after buying an additional 3,684 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Par Pacific by 127.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,737 shares of the company’s stock valued at $73,000 after acquiring an additional 6,016 shares during the last quarter. Institutional investors own 92.96% of the company’s stock.

About Par Pacific

Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. The company operates in three segments: Refining, Retail, and Logistics. The Refining segment operates four 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.

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Analyst Recommendations for Par Pacific (NYSE:PARR)

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