Par Pacific (NYSE:PARR) Given New $80.00 Price Target at Mizuho

Par Pacific (NYSE:PARR) had its price target upped by Mizuho from $79.00 to $80.00 in a report issued on Thursday, MarketBeat.com reports. Mizuho currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on the stock. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Guggenheim raised Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and an average target price of $70.86.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $65.66 on Thursday. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Par Pacific has a 52 week low of $26.83 and a 52 week high of $70.39. The firm’s 50 day moving average is $58.17 and its two-hundred day moving average is $51.37. The firm has a market capitalization of $3.29 billion, a P/E ratio of 7.33 and a beta of 0.82.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted ($0.94) EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts forecast that Par Pacific will post 16.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new stake in Par Pacific during the 1st quarter valued at $26,000. EverSource Wealth Advisors LLC lifted its stake in shares of Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after acquiring an additional 173 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its holdings in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after purchasing an additional 478 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in 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. Hedge funds and other institutional investors own 92.15% of the company’s stock.

About Par Pacific

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.