JPMorgan Chase & Co. Issues Pessimistic Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $27.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 43.51% from the company’s previous close.

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

Par Pacific Trading Up 1.7 %

Shares of Par Pacific stock 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 company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.51 and a beta of 2.00. The business has a fifty day simple moving average of $16.79 and a two-hundred day simple moving average of $19.43. 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 (NYSE:PARR) last announced its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.15 EPS. Research analysts forecast that Par Pacific will post 1.12 EPS for the current year.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the business’s 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 of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PARR. Commonwealth Equity Services LLC acquired a new stake in shares of Par Pacific in the 2nd quarter valued at approximately $275,000. Massachusetts Financial Services Co. MA lifted its stake in Par Pacific by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 89,494 shares of the company’s stock valued at $2,260,000 after purchasing an additional 3,005 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Par Pacific by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after buying an additional 17,509 shares in the last quarter. Thomist Capital Management LP grew its stake in shares of Par Pacific by 50.0% during the second quarter. Thomist Capital Management LP now owns 559,277 shares of the company’s stock worth $13,095,000 after buying an additional 186,411 shares during the last quarter. Finally, Inspire Investing LLC increased its holdings in shares of Par Pacific by 133.7% during the second quarter. Inspire Investing LLC now owns 22,612 shares of the company’s stock worth $571,000 after buying an additional 12,938 shares in the last quarter. 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.