UBS Group Lowers Par Pacific (NYSE:PARR) Price Target to $14.75

Par Pacific (NYSE:PARR) had its price objective reduced by research analysts at UBS Group from $20.00 to $14.75 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 11.96% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Piper Sandler lowered their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. TD Cowen reduced their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. reduced their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Finally, Raymond James started coverage on Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.68.

Par Pacific Price Performance

Shares of NYSE PARR opened at $13.17 on Wednesday. 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 $14.15 and a 200-day moving average of $16.03. The stock has a market capitalization of $716.02 million, a price-to-earnings ratio of 2.55 and a beta of 1.64. Par Pacific has a fifty-two week low of $11.86 and a fifty-two week high of $33.08.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, sell-side analysts predict that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds have recently bought and sold shares of the company. Solas Capital Management LLC increased its stake in shares of Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock valued at $13,030,000 after acquiring an additional 641,423 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock worth $31,744,000 after buying an additional 586,003 shares during the last quarter. Bridgewater Associates LP purchased a new position in Par Pacific in the fourth quarter worth $9,293,000. State Street Corp boosted its holdings in shares of Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after buying an additional 328,325 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Par Pacific by 53.0% during the 4th quarter. Barclays PLC now owns 718,688 shares of the company’s stock valued at $11,779,000 after acquiring an additional 249,048 shares during the period. Institutional investors own 92.15% of the company’s stock.

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.