The Goldman Sachs Group Lowers Par Pacific (NYSE:PARR) Price Target to $18.00

Par Pacific (NYSE:PARR) had its price objective lowered by research analysts at The Goldman Sachs Group from $20.00 to $18.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 25.07% from the stock’s previous close.

A number of other brokerages also recently issued reports on PARR. JPMorgan Chase & Co. decreased their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Mizuho cut 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 note on Monday, December 16th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. TD Cowen reduced their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Raymond James began coverage on shares of Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.86.

Par Pacific Stock Up 2.1 %

Shares of NYSE:PARR opened at $14.39 on Thursday. Par Pacific has a fifty-two week low of $13.40 and a fifty-two week high of $40.20. The firm’s 50 day moving average price is $16.65 and its 200 day moving average price is $17.72. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock has a market cap of $805.26 million, a price-to-earnings ratio of 2.79 and a beta of 1.99.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, equities research analysts predict that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

A number of hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares during the period. Nisa Investment Advisors LLC grew its position in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Par Pacific by 2.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after buying an additional 810 shares during the period. Martingale Asset Management L P raised its position in Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after buying an additional 921 shares during the last quarter. Finally, Inspire Investing LLC lifted its stake in shares of Par Pacific by 4.6% in the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after acquiring an additional 1,066 shares during the period. 92.15% of the stock is 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.