Par Pacific (NYSE:PARR) Upgraded at The Goldman Sachs Group

Par Pacific (NYSE:PARR) was upgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has a $19.00 price target on the stock, up from their previous price target of $18.00. The Goldman Sachs Group’s price objective suggests a potential upside of 33.30% from the company’s current price.

A number of other equities analysts have also weighed in on PARR. StockNews.com lowered Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. TD Cowen decreased their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Piper Sandler decreased their target price on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Finally, Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $22.71.

Par Pacific Stock Down 3.7 %

Shares of PARR opened at $14.25 on Thursday. The firm has a market cap of $780.38 million, a P/E ratio of 2.76 and a beta of 2.01. Par Pacific has a 1 year low of $11.86 and a 1 year high of $40.20. The stock has a 50 day simple moving average of $15.37 and a two-hundred day simple moving average of $16.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) EPS 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 business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.68 billion. On average, analysts forecast that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Institutional Trading of Par Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of PARR. Intech Investment Management LLC purchased a new position in Par Pacific in the 3rd quarter worth about $315,000. Charles Schwab Investment Management Inc. raised its stake in shares of Par Pacific by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 741,626 shares of the company’s stock valued at $13,053,000 after acquiring an additional 13,457 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Par Pacific in the third quarter valued at approximately $385,000. FMR LLC grew its stake in Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company’s stock worth $152,000 after purchasing an additional 4,826 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Par Pacific by 196.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 44,416 shares of the company’s stock worth $782,000 after purchasing an additional 29,435 shares during the period. Hedge funds and other 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.