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

Par Pacific (NYSE:PARR) had its price objective cut by The Goldman Sachs Group from $20.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 29.25% from the company’s previous close.

Several other research firms have also recently commented on PARR. TD Cowen cut their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Finally, Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.86.

Par Pacific Stock Down 0.1 %

Par Pacific stock traded down $0.01 during mid-day trading on Thursday, hitting $13.93. The company had a trading volume of 553,424 shares, compared to its average volume of 1,015,751. The stock has a market cap of $779.24 million, a price-to-earnings ratio of 2.72 and a beta of 1.99. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific has a 1 year low of $13.40 and a 1 year high of $40.20. The business has a fifty day moving average of $16.69 and a 200 day moving average of $17.81.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, sell-side analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Transactions at Par Pacific

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at approximately $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 accessible through the SEC website. Insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On Par Pacific

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its position in Par Pacific by 232.5% during the 4th quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after purchasing an additional 1,167 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after purchasing an additional 1,528 shares in the last quarter. US Bancorp DE boosted its position 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 worth $30,000 after buying an additional 652 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Par Pacific by 37.7% in the fourth 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 in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Par Pacific by 123.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.