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

Par Pacific (NYSE:PARR) had its price target dropped by investment analysts at The Goldman Sachs Group from $20.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target indicates a potential upside of 25.07% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. TD Cowen reduced their price target 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. 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 report on Thursday, January 16th. Mizuho downgraded 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 report on Monday, December 16th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Raymond James assumed coverage on shares of Par Pacific in a research report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Par Pacific presently has an average rating of “Hold” and a consensus target price of $22.86.

Par Pacific Trading Up 2.1 %

NYSE:PARR opened at $14.39 on Thursday. Par Pacific has a 1 year low of $13.40 and a 1 year high of $40.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $17.72. The stock has a market capitalization 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 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). The company had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. As a group, sell-side analysts anticipate that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the company’s stock in a transaction dated 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 directly owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On Par Pacific

A number of institutional investors have recently modified their holdings of PARR. Creative Planning raised its holdings in Par Pacific by 246.2% in the 3rd quarter. Creative Planning now owns 33,014 shares of the company’s stock valued at $581,000 after acquiring an additional 23,478 shares during the last quarter. Private Advisor Group LLC grew its position in shares of Par Pacific by 60.4% in the third quarter. Private Advisor Group LLC now owns 21,213 shares of the company’s stock valued at $373,000 after purchasing an additional 7,987 shares during the period. State of Alaska Department of Revenue increased its stake in Par Pacific by 2.6% in the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after purchasing an additional 810 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Par Pacific by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock worth $929,000 after buying an additional 1,226 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock worth $9,033,000 after buying an additional 315,967 shares during 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.