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

Par Pacific (NYSE:PARR) had its price objective dropped by equities research analysts at Mizuho from $91.00 to $80.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho‘s price objective points to a potential upside of 9.44% from the stock’s previous close.

A number of other brokerages have also issued reports on PARR. Piper Sandler assumed coverage on shares of Par Pacific in a research note on Tuesday, October 27th. They issued a “neutral” rating and a $94.00 price target for the company. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. The Goldman Sachs Group lowered shares of Par Pacific from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $90.00 to $94.00 in a report on Thursday, October 15th. TD Cowen cut their target price on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Finally, Raymond James Financial restated an “outperform” rating and issued a $117.00 target price on shares of Par Pacific in a research note on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $88.86.

Par Pacific Stock Up 1.5%

NYSE PARR traded up $1.07 during mid-day trading on Friday, reaching $73.10. 520,919 shares of the company’s stock traded hands, compared to its average volume of 876,532. The company has a current ratio of 1.65, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. Par Pacific has a 1-year low of $34.37 and a 1-year high of $90.74. The company has a fifty day simple moving average of $79.75 and a 200-day simple moving average of $65.60. The company has a market cap of $3.66 billion, a price-to-earnings ratio of 3.83 and a beta of 0.82.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, November 3rd. The company reported $10.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.65 by $4.05. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.19 billion. Par Pacific had a return on equity of 61.51% and a net margin of 9.81%. Par Pacific’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.95 EPS. As a group, equities research analysts expect that Par Pacific will post 28.36 EPS for the current year.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. This trade represents a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Timothy Clossey sold 10,970 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the transaction, the director directly owned 51,526 shares of the company’s stock, valued at approximately $4,328,184. This trade represents a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PARR. Encompass Capital Advisors LLC acquired a new stake in Par Pacific in the 1st quarter valued at about $28,839,000. Bank of New York Mellon Corp bought a new position in shares of Par Pacific during the 2nd quarter valued at about $19,353,000. Pacer Advisors Inc. acquired a new position in shares of Par Pacific in the 1st quarter worth approximately $16,277,000. Bessemer Group Inc. grew its stake in shares of Par Pacific by 142.2% in the 3rd quarter. Bessemer Group Inc. now owns 365,028 shares of the company’s stock worth $29,793,000 after purchasing an additional 214,325 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Par Pacific by 395.9% in the 1st quarter. First Trust Advisors LP now owns 133,073 shares of the company’s stock worth $8,336,000 after purchasing an additional 106,238 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Company Profile

Par Pacific Holdings, Inc. is an energy company focused on refining, logistics and retail operations. Its refining business produces transportation fuels and other petroleum products from crude oil and other feedstocks. The company operates refineries in Hawaii, Washington and Wyoming. Its logistics operations support the movement and storage of crude oil and refined products, while its retail business sells fuel to customers, primarily in Hawaii. Par Pacific was formed in 2012 and is headquartered in Houston, Texas.