Par Pacific (NYSE:PARR) Lowered to Neutral Rating by The Goldman Sachs Group

The Goldman Sachs Group cut shares of Par Pacific (NYSE:PARR) from a buy rating to a neutral rating in a report released on Wednesday, Marketbeat reports. The Goldman Sachs Group currently has $19.00 target price on the stock.

Several other research analysts have also commented on PARR. UBS Group lowered their price objective on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. TD Cowen reduced their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler boosted their price target on shares of Par Pacific from $21.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. Mizuho upped their price objective on Par Pacific from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.25.

Par Pacific Stock Down 3.4%

Shares of NYSE PARR opened at $21.71 on Wednesday. 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 business’s 50 day moving average is $15.86 and its two-hundred day moving average is $16.08. Par Pacific has a 52-week low of $11.86 and a 52-week high of $27.45. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 4.21 and a beta of 1.50.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.54). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts predict that Par Pacific will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PARR. Barclays PLC raised its holdings in Par Pacific by 10.1% during the third quarter. Barclays PLC now owns 469,640 shares of the company’s stock worth $8,265,000 after purchasing an additional 42,930 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after buying an additional 700 shares during the last quarter. Inspire Investing LLC raised its stake in Par Pacific by 4.6% during the 4th quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after acquiring an additional 1,066 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Par Pacific by 17.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 19,169 shares of the company’s stock valued at $314,000 after acquiring an additional 2,825 shares during the last quarter. Finally, Yorktown Management & Research Co Inc acquired a new position in Par Pacific in the fourth quarter valued at $415,000. 92.15% of the stock is owned by institutional investors and hedge funds.

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.