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

Par Pacific (NYSE:PARR) had its price target cut by equities researchers at The Goldman Sachs Group from $23.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 16.35% from the stock’s current price.

A number of other equities analysts have also commented on PARR. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. 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. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. 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 for the company. 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 data from MarketBeat, Par Pacific presently has an average rating of “Hold” and an average target price of $25.29.

Par Pacific Stock Up 0.5 %

PARR traded up $0.08 during trading on Friday, reaching $17.19. 257,518 shares of the stock were exchanged, compared to its average volume of 797,731. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69. 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 market cap of $961.72 million, a P/E ratio of 3.33 and a beta of 2.00. The stock’s 50 day moving average price is $16.87 and its two-hundred day moving average price is $18.94.

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

Insider Activity

In related news, Director William Pate sold 67,700 shares of the company’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 transaction of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares in the company, valued at $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 available through this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Trading of Par Pacific

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC acquired a new stake in shares of Par Pacific during the 2nd quarter valued at $1,932,000. AQR Capital Management LLC grew its holdings in shares of Par Pacific by 210.9% during the second quarter. AQR Capital Management LLC now owns 85,987 shares of the company’s stock worth $2,171,000 after purchasing an additional 58,328 shares during the last quarter. Quarry LP increased its stake in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares during the period. Simplicity Wealth LLC raised its holdings in Par Pacific by 6.6% in the 3rd quarter. Simplicity Wealth LLC now owns 14,872 shares of the company’s stock valued at $262,000 after buying an additional 923 shares during the last quarter. Finally, Creative Planning boosted its position in Par Pacific by 246.2% during the 3rd quarter. Creative Planning now owns 33,014 shares of the company’s stock worth $581,000 after buying an additional 23,478 shares during the period. Institutional investors 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.