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

Par Pacific (NYSE:PARR) was upgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. The firm currently has a $19.00 price target on the stock, up from their previous price target of $18.00. The Goldman Sachs Group’s target price would indicate a potential upside of 34.22% from the company’s previous close.

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

Par Pacific Price Performance

PARR stock opened at $14.16 on Thursday. The company’s fifty day simple moving average is $15.51 and its 200 day simple moving average is $16.61. Par Pacific has a 12-month low of $11.86 and a 12-month high of $40.20. The firm has a market cap of $775.01 million, a price-to-earnings ratio of 2.74 and a beta of 2.01. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted 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 return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, analysts expect that Par Pacific will post 0.15 earnings per share for the current year.

Hedge Funds Weigh In On Par Pacific

Large investors have recently made changes to their positions in the stock. US Bancorp DE boosted its stake 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 purchasing an additional 652 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of 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 acquiring an additional 700 shares during the period. Martingale Asset Management L P grew its stake in Par Pacific by 1.9% during the third quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock valued at $849,000 after acquiring an additional 921 shares in the last quarter. Inspire Investing LLC increased its holdings in Par Pacific by 4.6% during the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after acquiring an additional 1,066 shares during the period. Finally, Mariner LLC increased its holdings in Par Pacific by 7.7% during the 4th quarter. Mariner LLC now owns 15,136 shares of the company’s stock worth $248,000 after acquiring an additional 1,086 shares during the period. 92.15% of the stock is owned by 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.