The Goldman Sachs Group Downgrades Par Pacific (NYSE:PARR) to Neutral

The Goldman Sachs Group lowered shares of Par Pacific (NYSE:PARR - Free Report) from a buy rating to a neutral rating in a report released on Wednesday, MarketBeat.com reports. The firm currently has $19.00 price target on the stock.

Other analysts have also recently issued reports about the company. Mizuho increased their price objective on Par Pacific from $18.00 to $21.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Piper Sandler upped their price target on Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. TD Cowen decreased their price target on Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. UBS Group dropped their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Finally, Wall Street Zen downgraded shares of Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $21.25.

Par Pacific Stock Performance

NYSE:PARR traded down $0.41 during mid-day trading on Wednesday, reaching $21.59. 1,670,199 shares of the stock were exchanged, compared to its average volume of 1,148,136. The stock has a market capitalization of $1.11 billion, a P/E ratio of 4.18 and a beta of 1.50. Par Pacific has a 1 year low of $11.86 and a 1 year high of $27.45. The company has a 50 day simple moving average of $16.17 and a 200-day simple moving average of $16.14. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. Par Pacific's revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.69 earnings per share. Analysts anticipate that Par Pacific will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its stake in Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company's stock valued at $30,000 after purchasing an additional 652 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Par Pacific by 37.7% in the fourth 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. SummerHaven Investment Management LLC increased its position in shares of Par Pacific by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company's stock valued at $471,000 after buying an additional 860 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Par Pacific by 2.3% in the first quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock valued at $621,000 after buying an additional 960 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after buying an additional 986 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.