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

Par Pacific (NYSE:PARR) had its target price lowered by stock analysts at The Goldman Sachs Group from $20.00 to $18.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential upside of 29.25% from the company’s current price.

PARR has been the subject of a number of other reports. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Raymond James began coverage on shares of Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective for the company. TD Cowen decreased 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. Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price target 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.86.

Par Pacific Price Performance

NYSE:PARR traded down $0.01 during trading hours on Thursday, reaching $13.93. 553,424 shares of the company were exchanged, compared to its average volume of 1,015,751. Par Pacific has a twelve month low of $13.40 and a twelve month high of $40.20. The stock’s 50-day moving average is $16.69 and its 200-day moving average is $17.81. 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 has a market cap of $779.24 million, a PE ratio of 2.72 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released its earnings results 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). The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, sell-side analysts anticipate that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. US Bancorp DE boosted its position in Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after buying an additional 652 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Par Pacific by 37.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the period. State of Alaska Department of Revenue grew its stake in Par Pacific by 2.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock worth $565,000 after purchasing an additional 810 shares in the last quarter. Martingale Asset Management L P increased its holdings in Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after purchasing an additional 921 shares during the period. Finally, Inspire Investing LLC boosted its stake in shares of Par Pacific by 4.6% in the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock valued at $397,000 after buying an additional 1,066 shares during the period. Institutional investors and hedge funds 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.