UBS Group Issues Pessimistic Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its target price reduced by investment analysts at UBS Group from $20.00 to $14.75 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price objective points to a potential upside of 13.45% from the company’s current price.

Other equities research analysts have also issued reports about the company. Raymond James began coverage on Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price for the company. TD Cowen cut their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, January 16th. Finally, The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $19.00 in a report on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.68.

Par Pacific Trading Up 6.3 %

Shares of PARR traded up $0.77 during trading hours on Wednesday, reaching $13.00. 236,963 shares of the company traded hands, compared to its average volume of 1,057,930. The firm has a market cap of $706.62 million, a price-to-earnings ratio of 2.51 and a beta of 1.64. Par Pacific has a 12-month low of $11.86 and a 12-month high of $33.26. The stock’s fifty day moving average price is $14.32 and its 200 day moving average price is $16.08. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The company 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%. Sell-side analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On Par Pacific

Institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after acquiring an additional 586,003 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Par Pacific by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock valued at $22,591,000 after purchasing an additional 7,804 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in Par Pacific by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company’s stock worth $16,878,000 after purchasing an additional 91,814 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Par Pacific by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company’s stock worth $14,902,000 after purchasing an additional 167,594 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

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.