The Goldman Sachs Group Issues Pessimistic Forecast for Par Pacific (NYSE:PARR) Stock Price

Par Pacific (NYSE:PARR) had its target price dropped by equities researchers at The Goldman Sachs Group from $26.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 52.42% from the stock’s current price.

A number of other equities analysts also recently commented on PARR. Mizuho downgraded shares of 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 note on Monday, December 16th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a report on Monday, September 9th. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.50.

Par Pacific Price Performance

PARR stock opened at $15.09 on Thursday. Par Pacific has a 1 year low of $14.84 and a 1 year high of $40.69. 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 firm has a market capitalization of $844.32 million, a PE ratio of 2.92 and a beta of 1.99. The business has a 50 day simple moving average of $16.73 and a 200-day simple moving average of $20.49.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $3.15 EPS. The firm’s quarterly revenue was down 16.9% on a year-over-year basis. Equities research analysts anticipate that Par Pacific will post 1.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Pate sold 67,700 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 4.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Par Pacific

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC boosted its position in Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares during the period. Meeder Asset Management Inc. purchased a new position in Par Pacific in the second quarter valued at $43,000. Quarry LP boosted its holdings in Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the period. nVerses Capital LLC grew its stake in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Par Pacific during the 2nd quarter worth about $104,000. 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.