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

Par Pacific (NYSE:PARR - Get Free Report) had its price target reduced by stock analysts at The Goldman Sachs Group from $23.00 to $20.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 19.90% from the stock's previous close.

PARR has been the subject of several other research reports. StockNews.com raised Par Pacific from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Raymond James initiated coverage on shares of Par Pacific in a research report on Friday, January 24th. They set an "outperform" rating and a $25.00 target price on the stock. Mizuho cut shares of Par Pacific from an "outperform" rating to a "neutral" rating and decreased their price target for the stock from $26.00 to $22.00 in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Thursday, January 16th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Par Pacific has an average rating of "Hold" and a consensus target price of $25.29.

Par Pacific Stock Down 0.2 %

Shares of PARR stock traded down $0.04 during mid-day trading on Friday, hitting $16.68. 395,061 shares of the stock traded hands, compared to its average volume of 805,513. Par Pacific has a 52-week low of $14.84 and a 52-week high of $40.69. The stock has a market cap of $933.34 million, a P/E ratio of 3.24 and a beta of 2.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock's fifty day moving average is $16.85 and its two-hundred day moving average is $18.81.

Par Pacific (NYSE:PARR - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm earned $3.15 earnings per share. Par Pacific's revenue was down 16.9% compared to the same quarter last year. Equities analysts predict that Par Pacific will post 0.15 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other news, Director William Pate sold 67,700 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.40% of the company's stock.

Institutional Trading of Par Pacific

Institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in 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 purchasing an additional 700 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Par Pacific by 2.6% in the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company's stock valued at $565,000 after buying an additional 810 shares during the last quarter. Martingale Asset Management L P lifted its stake 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 worth $849,000 after buying an additional 921 shares in the last quarter. Simplicity Wealth LLC boosted its position in Par Pacific by 6.6% during the third quarter. Simplicity Wealth LLC now owns 14,872 shares of the company's stock worth $262,000 after acquiring an additional 923 shares during the last quarter. Finally, Inspire Investing LLC grew 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 valued at $397,000 after acquiring an additional 1,066 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other 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.