Goldman Sachs Group Inc. Acquires 268,219 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Goldman Sachs Group Inc. increased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 28.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,227,239 shares of the company’s stock after purchasing an additional 268,219 shares during the period. Goldman Sachs Group Inc.’s holdings in Par Pacific were worth $44,635,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new position in Par Pacific in the 4th quarter worth about $30,000. Quadrant Capital Group LLC boosted its stake in Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares in the last quarter. Navellier & Associates Inc. bought a new position in Par Pacific in the 4th quarter worth about $221,000. PNC Financial Services Group Inc. boosted its stake in Par Pacific by 17.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock worth $252,000 after purchasing an additional 1,024 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new position in Par Pacific in the 4th quarter worth about $271,000. Institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

PARR has been the subject of a number of recent analyst reports. TD Cowen decreased their target price on Par Pacific from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Piper Sandler decreased their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, StockNews.com lowered Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.75.

Par Pacific Price Performance

NYSE PARR opened at $24.58 on Friday. Par Pacific Holdings, Inc. has a 52 week low of $23.61 and a 52 week high of $40.69. The firm has a market capitalization of $1.42 billion, a P/E ratio of 3.08 and a beta of 1.99. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $28.77 and a 200-day moving average price of $33.74.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. The business had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Equities research analysts anticipate that Par Pacific Holdings, Inc. will post 3.69 earnings per share for the current year.

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.