Par Pacific (NYSE:PARR) Stock Rating Upgraded by The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Par Pacific (NYSE:PARR) from a neutral rating to a buy rating in a research note issued to investors on Thursday morning, Marketbeat reports. The brokerage currently has $19.00 target price on the stock, up from their prior target price of $18.00.

Several other research firms also recently commented on PARR. JPMorgan Chase & Co. dropped their price objective 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. Piper Sandler dropped their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. TD Cowen lowered their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Raymond James began coverage on Par Pacific in a report on Friday, January 24th. They issued an “outperform” rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Par Pacific currently has an average rating of “Hold” and a consensus target price of $22.71.

Par Pacific Trading Down 3.7 %

NYSE:PARR opened at $14.25 on Thursday. Par Pacific has a 12 month low of $11.86 and a 12 month high of $40.20. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average is $15.37 and its 200 day moving average is $16.55. The stock has a market capitalization of $780.38 million, a PE ratio of 2.76 and a beta of 2.01.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.68 billion. Sell-side analysts expect that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Par Pacific by 232.5% during the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after buying an additional 1,167 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after acquiring an additional 1,528 shares during the last quarter. US Bancorp DE boosted its position in shares of Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Par Pacific by 123.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after purchasing an additional 1,784 shares during the last quarter. 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.