Par Pacific (NYSE:PARR) Given New $26.00 Price Target at JPMorgan Chase & Co.

Par Pacific (NYSE:PARR) had its price objective decreased by JPMorgan Chase & Co. from $27.00 to $26.00 in a research note issued to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities analysts have also commented on PARR. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. The Goldman Sachs Group reduced their target price on Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, December 19th. Finally, Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.83.

Par Pacific Stock Performance

NYSE:PARR opened at $18.12 on Thursday. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. The business has a fifty day simple moving average of $16.83 and a two-hundred day simple moving average of $19.38. 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 company has a market capitalization of $1.01 billion, a P/E ratio of 3.51 and a beta of 2.00.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the company earned $3.15 earnings per share. The business’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, analysts expect that Par Pacific will post 1.12 earnings per share for the current year.

Insider Transactions 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 stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently modified their holdings of PARR. GAMMA Investing LLC lifted its stake in shares of Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after acquiring an additional 1,167 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares during the last quarter. Quarry LP lifted its stake in shares of Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after acquiring an additional 2,027 shares during the last quarter. FMR LLC lifted its stake in shares of Par Pacific by 126.7% in the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Par Pacific in the 3rd quarter valued at about $185,000. 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.