Par Pacific (NYSE:PARR) PT Lowered to $28.00 at The Goldman Sachs Group

Par Pacific (NYSE:PARR) had its target price lowered by equities researchers at The Goldman Sachs Group from $32.00 to $28.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 59.27% from the company’s current price.

Several other analysts also recently weighed in on the stock. Tudor Pickering raised shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $37.00 to $23.00 in a research report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Mizuho lowered their price objective on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, UBS Group dropped their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific Trading Down 0.2 %

PARR traded down $0.04 during trading hours on Wednesday, reaching $17.58. 50,950 shares of the company’s stock traded hands, compared to its average volume of 893,536. The firm has a 50-day moving average price of $20.97 and a 200 day moving average price of $25.95. The firm has a market capitalization of $990.28 million, a PE ratio of 2.20 and a beta of 1.98. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. Par Pacific has a 52-week low of $17.06 and a 52-week high of $40.69.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The business’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, sell-side analysts predict that Par Pacific will post 1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC boosted its holdings in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Par Pacific in the second quarter valued at approximately $43,000. Quarry LP grew its holdings in Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC increased its position in shares of Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Par Pacific during the 2nd quarter valued at $104,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.