The Goldman Sachs Group Cuts Par Pacific (NYSE:PARR) Price Target to $20.00

Par Pacific (NYSE:PARR) had its price target reduced by The Goldman Sachs Group from $23.00 to $20.00 in a research note released on Friday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other analysts have also recently issued research reports about the company. Raymond James initiated coverage on Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price for the company. JPMorgan Chase & Co. reduced their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Par Pacific currently has a consensus rating of “Hold” and a consensus target price of $25.29.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $16.74 on Friday. 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 capitalization of $936.60 million, a price-to-earnings ratio of 3.24 and a beta of 2.00. The stock’s fifty day simple moving average is $16.85 and its 200 day simple moving average is $18.81. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.15 EPS. As a group, sell-side analysts forecast that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Par Pacific

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

Institutional Investors Weigh In On Par Pacific

Several large investors have recently modified their holdings of PARR. GAMMA Investing LLC boosted its holdings in shares of Par Pacific by 232.5% in the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after acquiring an additional 1,167 shares in the last quarter. Quarry LP boosted its holdings in shares of Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after acquiring an additional 2,027 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Par Pacific by 4,804.2% in the 4th quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock worth $139,000 after acquiring an additional 7,975 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Par Pacific by 126.7% in the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock worth $152,000 after acquiring an additional 4,826 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

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.