Par Pacific (NYSE:PARR) Upgraded to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Par Pacific (NYSE:PARR) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat.com reports. They currently have $19.00 price target on the stock, up from their prior price target of $18.00.

A number of other brokerages also recently commented on PARR. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased 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 note on Thursday, January 16th. TD Cowen dropped their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. Finally, Piper Sandler dropped their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Par Pacific has an average rating of “Hold” and an average target price of $22.71.

Par Pacific Trading Up 4.2 %

Shares of PARR stock opened at $14.82 on Thursday. The firm has a market capitalization of $811.58 million, a P/E ratio of 2.87 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 firm’s fifty day simple moving average is $15.45 and its 200 day simple moving average is $16.60. 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 (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.68 billion. As a group, sell-side analysts predict that Par Pacific will post 0.15 EPS for the current year.

Institutional Trading of Par Pacific

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in shares of Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC increased 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 last quarter. Martingale Asset Management L P lifted its stake in Par Pacific by 1.9% in the third quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock valued at $849,000 after buying an additional 921 shares during the period. Inspire Investing LLC lifted its stake in Par Pacific by 4.6% in the fourth 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. Finally, Mariner LLC boosted its holdings in Par Pacific by 7.7% during the fourth quarter. Mariner LLC now owns 15,136 shares of the company’s stock worth $248,000 after buying an additional 1,086 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Company Profile

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.