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

Par Pacific (NYSE:PARR) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $23.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 19.47% from the stock’s current price.

Several other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut 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. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and dropped their target price 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 target price for the company. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $25.29.

Par Pacific Stock Performance

Shares of PARR stock opened at $16.74 on Friday. 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 company has a market capitalization of $936.60 million, a P/E ratio of 3.24 and a beta of 2.00. The stock has a 50 day moving average price of $16.85 and a two-hundred day moving average price of $18.85. Par Pacific has a fifty-two week low of $14.84 and a fifty-two week high of $40.69.

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

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction 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 in the company, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is owned by company insiders.

Institutional Trading of Par Pacific

Several large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock valued at $9,033,000 after buying an additional 315,967 shares during the period. Walleye Capital LLC lifted its holdings in shares of Par Pacific by 1,014.3% in the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after buying an additional 249,290 shares during the period. State Street Corp lifted its holdings in shares of Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Par Pacific by 7.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock valued at $2,248,000 after buying an additional 8,844 shares during the period. Finally, Algert Global LLC lifted its holdings in shares of Par Pacific by 63.8% in the 3rd quarter. Algert Global LLC now owns 303,970 shares of the company’s stock valued at $5,350,000 after buying an additional 118,393 shares during the period. 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.