Par Pacific (NYSE:PARR) Stock Rating Upgraded by The Goldman Sachs Group

Par Pacific (NYSE:PARR) was upgraded by research 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,Briefing.com Automated Import reports. The brokerage currently has a $19.00 target price on the stock, up from their previous target price of $18.00. The Goldman Sachs Group’s price objective would suggest a potential upside of 34.22% from the company’s previous close.

PARR has been the subject of several other research reports. Raymond James began coverage on shares of Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, January 16th. StockNews.com downgraded Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. TD Cowen cut their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.71.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $14.16 on Thursday. The company has a 50-day moving average price of $15.51 and a 200-day moving average price of $16.61. The company has a market cap of $775.01 million, a price-to-earnings ratio of 2.74 and a beta of 2.01. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. Par Pacific has a 12 month low of $11.86 and a 12 month high of $40.20.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results 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). 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 for the quarter, compared to analysts’ expectations of $1.68 billion. As a group, equities analysts anticipate that Par Pacific will post 0.15 EPS for the current year.

Institutional Trading of Par Pacific

Institutional investors have recently bought and sold shares of the stock. Solas Capital Management LLC increased its stake in Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock worth $13,030,000 after buying an additional 641,423 shares during the period. Millennium Management LLC grew its position in shares of Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock worth $31,744,000 after buying an additional 586,003 shares during the last quarter. Bridgewater Associates LP bought a new position in shares of Par Pacific during the 4th quarter worth approximately $9,293,000. State Street Corp grew its holdings in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after purchasing an additional 328,325 shares during the last quarter. Finally, Walleye Capital LLC lifted its holdings in shares of Par Pacific by 1,014.3% during the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock valued at $4,820,000 after purchasing an additional 249,290 shares during the last quarter. 92.15% of the stock is currently owned by 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.