Par Pacific (NYSE:PARR) Raised to Buy at The Goldman Sachs Group

Par Pacific (NYSE:PARR - Get Free Report) was upgraded by investment analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $19.00 target price on the stock, up from their prior target price of $18.00. The Goldman Sachs Group's price objective indicates a potential upside of 33.30% from the stock's previous close.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler lowered their target price on shares of Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Raymond James assumed coverage on Par Pacific in a report on Friday, January 24th. They issued an "outperform" rating and a $25.00 price target for the company. StockNews.com lowered Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. TD Cowen decreased 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. Finally, Mizuho lowered Par Pacific from an "outperform" rating to a "neutral" rating and decreased their price target 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 issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $22.71.

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Par Pacific Price Performance

Shares of Par Pacific stock traded down $0.55 during trading hours on Thursday, reaching $14.25. The stock had a trading volume of 900,720 shares, compared to its average volume of 1,021,253. The firm has a market capitalization of $780.38 million, a PE ratio of 2.76 and a beta of 2.01. Par Pacific has a twelve month low of $11.86 and a twelve month high of $40.20. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock's 50 day moving average is $15.37 and its 200 day moving average is $16.55.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $1.83 billion during the quarter, compared to analysts' expectations of $1.68 billion. Equities analysts expect that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Institutional investors and hedge funds have recently bought and sold shares of the stock. Intech Investment Management LLC acquired a new stake in shares of Par Pacific during the third quarter worth about $315,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Par Pacific by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 741,626 shares of the company's stock valued at $13,053,000 after purchasing an additional 13,457 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Par Pacific during the third quarter worth approximately $385,000. FMR LLC lifted its holdings in shares of Par Pacific by 126.7% during the third quarter. FMR LLC now owns 8,634 shares of the company's stock worth $152,000 after purchasing an additional 4,826 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Par Pacific by 196.5% during the third quarter. BNP Paribas Financial Markets now owns 44,416 shares of the company's stock worth $782,000 after purchasing an additional 29,435 shares during the period. 92.15% of the stock is owned by hedge funds and other 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.