Piper Sandler Cuts Par Pacific (NYSE:PARR) Price Target to $21.00

Par Pacific (NYSE:PARR - Free Report) had its price target reduced by Piper Sandler from $25.00 to $21.00 in a research report sent to investors on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts also recently issued reports on PARR. StockNews.com downgraded Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Mizuho downgraded shares of Par Pacific from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $26.00 to $22.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. Finally, TD Cowen lowered their price target on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Par Pacific has a consensus rating of "Hold" and an average target price of $22.57.

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Par Pacific Price Performance

PARR stock traded down $0.33 during midday trading on Friday, hitting $12.76. The company's stock had a trading volume of 1,949,825 shares, compared to its average volume of 949,786. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $16.27 and a two-hundred day moving average of $17.22. Par Pacific has a 12 month low of $11.86 and a 12 month high of $40.20. The firm has a market capitalization of $698.31 million, a price-to-earnings ratio of 2.47 and a beta of 2.01.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.68 billion. On average, analysts expect that Par Pacific will post 0.15 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other news, Director William Pate sold 67,700 shares of the company's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue boosted its stake in shares of Par Pacific by 2.6% during the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company's stock valued at $565,000 after purchasing an additional 810 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Par Pacific by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company's stock worth $929,000 after buying an additional 1,226 shares during the period. GSA Capital Partners LLP bought a new stake in Par Pacific during the 3rd quarter valued at $925,000. MQS Management LLC purchased a new position in shares of Par Pacific in the 3rd quarter valued at $185,000. Finally, Quest Partners LLC raised its position in shares of Par Pacific by 908.1% in the 3rd quarter. Quest Partners LLC now owns 59,780 shares of the company's stock worth $1,052,000 after acquiring an additional 53,850 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

About Par Pacific

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.