Par Pacific (NYSE:PARR) Upgraded 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 research note issued to investors on Thursday, Marketbeat.com reports. The Goldman Sachs Group currently has $19.00 price objective on the stock, up from their previous price objective of $18.00.

A number of other brokerages have also commented on PARR. JPMorgan Chase & Co. decreased their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. TD Cowen decreased their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler cut their target price on Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Raymond James assumed coverage on shares of Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. Finally, Mizuho lowered shares of 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Par Pacific currently has a consensus rating of “Hold” and a consensus target price of $22.71.

Par Pacific Price Performance

Par Pacific stock opened at $14.25 on Thursday. The stock has a market capitalization of $780.38 million, a price-to-earnings ratio of 2.76 and a beta of 2.01. Par Pacific has a 52-week low of $11.86 and a 52-week high of $40.20. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock’s 50 day moving average price is $15.37 and its two-hundred day moving average price is $16.55.

Par Pacific (NYSE:PARR) last issued its earnings results 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. On average, equities analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PARR. US Bancorp DE increased 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 valued at $30,000 after buying an additional 652 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings 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 in the last quarter. Martingale Asset Management L P grew its holdings in shares of 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 acquiring an additional 921 shares in the last quarter. Inspire Investing LLC increased its position in shares of Par Pacific by 4.6% during the fourth quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock valued at $397,000 after acquiring an additional 1,066 shares during the last quarter. Finally, Mariner LLC lifted 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 acquiring an additional 1,086 shares during the period. 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.