Par Pacific (NYSE:PARR) Price Target Raised to $48.00 at TD Cowen

Par Pacific (NYSE:PARR) had its target price hoisted by equities researchers at TD Cowen from $39.00 to $48.00 in a report issued on Friday, Marketbeat reports. The firm presently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 18.02% from the company’s current price.

A number of other analysts also recently commented on PARR. Mizuho boosted their price target on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, February 15th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.33.

Par Pacific Stock Performance

PARR opened at $40.67 on Friday. The business’s 50 day moving average is $38.30 and its 200-day moving average is $37.86. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70. The stock has a market cap of $2.05 billion, a PE ratio of 5.58 and a beta of 1.23. Par Pacific has a twelve month low of $11.86 and a twelve month high of $48.40.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 32.01% and a net margin of 4.95%.The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.79) EPS. On average, analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Par Pacific by 16.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after purchasing an additional 259 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock worth $596,000 after buying an additional 266 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Par Pacific by 12.5% during the 3rd quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after buying an additional 293 shares during the period. Natixis Advisors LLC increased its stake in shares of Par Pacific by 2.8% in the fourth quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock worth $390,000 after acquiring an additional 299 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Par Pacific by 2.5% during the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock worth $555,000 after acquiring an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.