Par Pacific (NYSE:PARR) Price Target Lowered to $36.00 at JPMorgan Chase & Co.

Par Pacific (NYSE:PARR) had its target price reduced by JPMorgan Chase & Co. from $38.00 to $36.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the company. TD Cowen lowered their price objective on Par Pacific from $42.00 to $36.00 and set a buy rating on the stock in a research note on Tuesday, June 25th. Piper Sandler lowered their price objective on Par Pacific from $43.00 to $37.00 and set an overweight rating on the stock in a research note on Friday, June 14th. Finally, StockNews.com downgraded Par Pacific from a buy rating to a hold rating in a research report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $36.20.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $25.70 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.28 and a quick ratio of 0.50. The business’s 50 day moving average price is $27.33 and its 200-day moving average price is $33.18. The firm has a market capitalization of $1.49 billion, a PE ratio of 3.22 and a beta of 2.01. Par Pacific has a 1 year low of $23.78 and a 1 year high of $40.69.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The firm had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. As a group, equities research analysts expect that Par Pacific will post 2.92 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Several institutional investors and hedge funds have recently modified their holdings of the company. Kennedy Capital Management LLC raised its holdings in shares of Par Pacific by 2.4% in the 3rd quarter. Kennedy Capital Management LLC now owns 12,235 shares of the company’s stock valued at $440,000 after buying an additional 287 shares during the period. Mackenzie Financial Corp increased its holdings in Par Pacific by 4.0% during the 4th quarter. Mackenzie Financial Corp now owns 8,270 shares of the company’s stock worth $301,000 after purchasing an additional 317 shares during the period. SummerHaven Investment Management LLC increased its holdings in Par Pacific by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 27,703 shares of the company’s stock worth $1,008,000 after purchasing an additional 324 shares during the period. Exchange Traded Concepts LLC increased its holdings in Par Pacific by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 24,168 shares of the company’s stock worth $879,000 after purchasing an additional 348 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.