Par Pacific (NYSE:PARR) Given New $20.00 Price Target at The Goldman Sachs Group

Par Pacific (NYSE:PARR) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $23.00 to $20.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 16.35% from the company’s previous close.

A number of other brokerages have also commented on PARR. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $26.00 to $22.00 in a research report on Monday, December 16th. Raymond James initiated coverage on Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $25.29.

Par Pacific Trading Up 0.5 %

PARR traded up $0.08 during trading on Friday, hitting $17.19. The company’s stock had a trading volume of 257,518 shares, compared to its average volume of 797,731. The firm has a market capitalization of $961.72 million, a P/E ratio of 3.33 and a beta of 2.00. Par Pacific has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock’s fifty day moving average price is $16.87 and its 200-day moving average price is $18.94.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.15 EPS. Analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

Insiders Place Their Bets

In related news, Director William Pate sold 67,700 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Pacer Advisors Inc. purchased a new position in Par Pacific in the third quarter valued at approximately $61,870,000. State Street Corp raised its stake in shares of Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the period. Geode Capital Management LLC grew its stake in shares of Par Pacific by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock worth $22,591,000 after acquiring an additional 7,804 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Par Pacific by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 741,626 shares of the company’s stock worth $13,053,000 after acquiring an additional 13,457 shares during the last quarter. Finally, Yaupon Capital Management LP raised its stake in Par Pacific by 17.0% in the 3rd quarter. Yaupon Capital Management LP now owns 604,828 shares of the company’s stock valued at $10,645,000 after acquiring an additional 87,881 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.