The Goldman Sachs Group Has Lowered Expectations for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its price objective lowered by The Goldman Sachs Group from $20.00 to $18.00 in a report released on Thursday morning,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the company. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Raymond James initiated 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. TD Cowen cut their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.86.

Par Pacific Trading Up 1.3 %

Shares of PARR stock opened at $14.12 on Thursday. Par Pacific has a twelve month low of $13.40 and a twelve month high of $40.20. The company has a market capitalization of $789.82 million, a price-to-earnings ratio of 2.74 and a beta of 1.99. The firm has a 50-day moving average price of $16.67 and a 200 day moving average price of $17.78. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $1.68 billion. Research analysts forecast that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insider Activity at Par Pacific

In related news, Director William Pate sold 67,700 shares of the company’s stock in a transaction 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 sale, the director now directly owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Par Pacific by 232.5% in 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 during the period. Sterling Capital Management LLC lifted its position in Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after acquiring an additional 1,528 shares in the last quarter. US Bancorp DE boosted its holdings in Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after acquiring an additional 700 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Par Pacific by 123.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after acquiring an additional 1,784 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

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.