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

Par Pacific (NYSE:PARR) had its target price trimmed by The Goldman Sachs Group from $20.00 to $18.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

PARR has been the subject of several other research reports. Raymond James began coverage on Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. JPMorgan Chase & Co. lowered 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. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Finally, TD Cowen decreased their target price on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.86.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $14.39 on Thursday. The firm has a market capitalization of $805.26 million, a P/E ratio of 2.79 and a beta of 1.99. Par Pacific has a 52 week low of $13.40 and a 52 week high of $40.20. 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 firm’s 50 day moving average is $16.65 and its two-hundred day moving average is $17.68.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Research analysts forecast that Par Pacific will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly 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 legal filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Par Pacific

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its position 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 valued at $27,000 after purchasing an additional 1,167 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Par Pacific by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after purchasing an additional 1,528 shares in the last quarter. US Bancorp DE raised its position in shares of Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Nisa Investment Advisors LLC raised its position 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 valued at $42,000 after purchasing an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after purchasing an additional 1,784 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Company Profile

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.