The Goldman Sachs Group Lowers Par Pacific (NYSE:PARR) Price Target to $18.00

Par Pacific (NYSE:PARR - Free Report) had its price target lowered by The Goldman Sachs Group from $20.00 to $18.00 in a research report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

PARR has been the topic of several other research reports. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an "outperform" rating and a $25.00 price objective for the company. Mizuho cut Par Pacific from an "outperform" rating to a "neutral" rating and reduced their target price for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. JPMorgan Chase & Co. decreased their price target 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. TD Cowen cut their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research note on Thursday. Finally, StockNews.com raised Par Pacific from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $22.86.

Par Pacific Trading Down 7.9 %

Shares of Par Pacific stock traded down $1.13 on Thursday, reaching $13.24. 2,094,388 shares of the company's stock were exchanged, compared to its average volume of 1,083,950. The company has a market capitalization of $740.80 million, a P/E ratio of 2.57 and a beta of 1.99. Par Pacific has a 52 week low of $12.90 and a 52 week high of $40.20. The firm's 50-day moving average is $16.65 and its two-hundred day moving average is $17.64. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

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

Insider Buying and Selling at Par Pacific

In other news, Director William Pate sold 67,700 shares of Par Pacific 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 transaction, the director now directly owns 524,610 shares of the company's stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Par Pacific by 37.7% during 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 during the period. State of Alaska Department of Revenue lifted 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 acquiring an additional 810 shares in the last quarter. Martingale Asset Management L P boosted 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 acquiring an additional 921 shares during the period. Finally, Inspire Investing LLC grew 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 worth $397,000 after purchasing an additional 1,066 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

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.