Par Pacific (NYSE:PARR) Given New $28.00 Price Target at The Goldman Sachs Group

Par Pacific (NYSE:PARR) had its price target decreased by The Goldman Sachs Group from $32.00 to $28.00 in a report published on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other analysts also recently weighed in on the company. Piper Sandler downgraded Par Pacific from an overweight rating to a neutral rating and decreased their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. raised shares of Par Pacific from a neutral rating to an overweight rating and lowered their price objective for the company from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Tudor Pickering raised shares of Par Pacific to a hold rating in a research report on Monday, September 9th. TD Cowen lowered their price target on Par Pacific from $36.00 to $32.00 and set a buy rating for the company in a report on Friday, August 9th. Finally, UBS Group reduced their price objective on 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 issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $28.00.

Par Pacific Price Performance

Par Pacific stock opened at $18.26 on Wednesday. Par Pacific has a 12-month low of $17.06 and a 12-month high of $40.69. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The firm has a 50-day moving average price of $20.53 and a 200-day moving average price of $25.62. The firm has a market capitalization of $1.03 billion, a PE ratio of 2.34 and a beta of 1.98.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the business earned $1.73 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, equities research analysts forecast that Par Pacific will post 1.19 EPS for the current year.

Institutional Trading of Par Pacific

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in shares of Par Pacific during the 1st quarter worth $978,000. Hennessy Advisors Inc. grew its position in shares of Par Pacific by 18.7% in the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after buying an additional 134,600 shares during the last quarter. Paragon Associates & Paragon Associates II Joint Venture bought a new position in shares of Par Pacific during the 4th quarter worth approximately $1,637,000. Russell Investments Group Ltd. lifted its position in Par Pacific by 14.9% during the first quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock valued at $7,579,000 after acquiring an additional 26,485 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Par Pacific in the first quarter valued at approximately $2,156,000. 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.