UBS Group Forecasts Strong Price Appreciation for Par Pacific (NYSE:PARR) Stock

Par Pacific (NYSE:PARR) had its price objective boosted by equities researchers at UBS Group from $40.00 to $60.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential downside of 4.53% from the company’s previous close.

PARR has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler increased their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday. The Goldman Sachs Group increased their target price on shares of Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, March 12th. Mizuho increased their target price on shares of Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 17th. Finally, Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Par Pacific has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Par Pacific Stock Up 5.7%

Shares of NYSE:PARR opened at $62.85 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The company has a market cap of $3.11 billion, a PE ratio of 8.62 and a beta of 0.97. Par Pacific has a 52 week low of $12.17 and a 52 week high of $67.39. The firm has a 50 day simple moving average of $50.88 and a 200 day simple moving average of $43.02.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.79) EPS. As a group, research analysts expect that Par Pacific will post 0.15 earnings per share for the current year.

Insider Transactions at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares in the company, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. raised its holdings in shares of Par Pacific by 385.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after purchasing an additional 1,558 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Par Pacific during the 4th quarter valued at $345,000. Hsbc Holdings PLC raised its holdings in shares of Par Pacific by 3.3% during the 4th quarter. Hsbc Holdings PLC now owns 49,096 shares of the company’s stock valued at $1,729,000 after purchasing an additional 1,578 shares in the last quarter. Virtu Financial LLC raised its holdings in shares of Par Pacific by 378.3% during the 4th quarter. Virtu Financial LLC now owns 30,215 shares of the company’s stock valued at $1,062,000 after purchasing an additional 23,898 shares in the last quarter. Finally, Compound Planning Inc. bought a new position in shares of Par Pacific during the 4th quarter valued at $392,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.