Par Pacific (NYSE:PARR) Price Target Lowered to $32.00 at The Goldman Sachs Group

Par Pacific (NYSE:PARR) had its price target trimmed by The Goldman Sachs Group from $37.00 to $32.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on Par Pacific from $38.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. TD Cowen cut their price target on Par Pacific from $42.00 to $36.00 and set a buy rating on the stock in a research report on Tuesday, June 25th. Piper Sandler dropped their target price on Par Pacific from $43.00 to $37.00 and set an overweight rating on the stock in a research report on Friday, June 14th. Finally, Mizuho initiated coverage on Par Pacific in a research report on Wednesday, July 17th. They set an outperform rating and a $33.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $35.17.

Par Pacific Stock Performance

Shares of PARR opened at $26.55 on Wednesday. Par Pacific has a 12 month low of $22.77 and a 12 month high of $40.69. The stock has a fifty day moving average price of $25.06 and a 200-day moving average price of $31.58. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49. The firm has a market cap of $1.54 billion, a PE ratio of 3.32 and a beta of 2.01.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Equities research analysts predict that Par Pacific will post 1.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares during the period. nVerses Capital LLC increased its holdings in Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. Innealta Capital LLC acquired a new stake in Par Pacific in the 2nd quarter valued at approximately $104,000. EntryPoint Capital LLC acquired a new position in shares of Par Pacific in the first quarter worth $157,000. Finally, Navellier & Associates Inc. acquired a new position in shares of Par Pacific in the fourth quarter worth $221,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.