Par Pacific (NYSE:PARR) PT Lowered to $28.00 at The Goldman Sachs Group

Par Pacific (NYSE:PARR) had its target price cut by research analysts at The Goldman Sachs Group from $32.00 to $28.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 56.86% from the company’s previous close.

Other analysts have also issued research reports about the stock. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Mizuho lowered their target price on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Down 0.2 %

Shares of NYSE:PARR opened at $17.85 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The company has a fifty day simple moving average of $20.64 and a 200 day simple moving average of $25.84. The firm has a market cap of $1.01 billion, a PE ratio of 2.28 and a beta of 1.98. Par Pacific has a 12-month low of $17.06 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.73 earnings per share. On average, equities research analysts anticipate that Par Pacific will post 1.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Several institutional investors have recently bought and sold shares of PARR. Millennium Management LLC lifted its holdings in Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after purchasing an additional 636,908 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Par Pacific by 28.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,227,239 shares of the company’s stock valued at $44,635,000 after acquiring an additional 268,219 shares during the last quarter. Thomist Capital Management LP lifted its holdings in Par Pacific by 176.2% in the 1st quarter. Thomist Capital Management LP now owns 372,866 shares of the company’s stock valued at $13,818,000 after acquiring an additional 237,844 shares during the last quarter. American Century Companies Inc. lifted its holdings in Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after acquiring an additional 175,331 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Par Pacific by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 197,287 shares of the company’s stock valued at $4,981,000 after acquiring an additional 144,449 shares during the last quarter. 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.