Par Pacific (NYSE:PARR) Given New $17.00 Price Target at TD Cowen

Par Pacific (NYSE:PARR - Get Free Report) had its price objective dropped by analysts at TD Cowen from $21.00 to $17.00 in a report issued on Thursday, MarketBeat reports. The firm currently has a "buy" rating on the stock. TD Cowen's price target would suggest a potential upside of 28.40% from the company's previous close.

A number of other equities analysts also recently commented on PARR. Mizuho downgraded Par Pacific from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $26.00 to $22.00 in a report on Monday, December 16th. JPMorgan Chase & Co. decreased their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. The Goldman Sachs Group cut their target price on shares of Par Pacific from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Friday, January 31st. Raymond James began coverage on shares of Par Pacific in a research note on Friday, January 24th. They issued an "outperform" rating and a $25.00 price target for the company. Finally, StockNews.com raised Par Pacific from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.86.

Par Pacific Trading Down 7.9 %

Par Pacific stock traded down $1.13 during trading hours on Thursday, reaching $13.24. The stock had a trading volume of 2,023,095 shares, compared to its average volume of 1,082,167. The stock has a market cap of $740.80 million, a PE ratio of 2.57 and a beta of 1.99. The company has a fifty day simple moving average of $16.65 and a 200-day simple moving average of $17.64. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific has a 52 week low of $12.90 and a 52 week high of $40.20.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The business had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Analysts forecast that Par Pacific will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in Par Pacific during the 4th quarter valued at about $286,000. GTS Securities LLC bought a new position in shares of Par Pacific in the fourth quarter worth approximately $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Par Pacific by 9.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 139,623 shares of the company's stock valued at $2,288,000 after buying an additional 11,891 shares during the last quarter. iSAM Funds UK Ltd increased its position in shares of Par Pacific by 63.5% during the fourth quarter. iSAM Funds UK Ltd now owns 19,697 shares of the company's stock valued at $323,000 after acquiring an additional 7,651 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Par Pacific in the 4th quarter worth approximately $544,000. 92.15% of the stock is currently owned by 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.