Par Pacific (NYSE:PARR) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• The Goldman Sachs Group raised its price target on Par Pacific from $44 to $53 but kept a "neutral" rating, while MarketBeat's consensus remains a "Hold" with a $49.50 target.
• Shares jumped to $53.26 (up ~4.6%) after the update; Par Pacific reported Q4 EPS of $1.17 (missed by $0.04) but revenue of $1.81 billion (beat estimates), and trades at a low PE of about 7.3 with a market cap near $2.6 billion.

Par Pacific (NYSE:PARR - Get Free Report) had its price target lifted by analysts at The Goldman Sachs Group from $44.00 to $53.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would suggest a potential downside of 0.49% from the stock's previous close.

A number of other brokerages also recently issued reports on PARR. Wall Street Zen downgraded shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 28th. TD Cowen raised their target price on shares of Par Pacific from $39.00 to $48.00 and gave the company a "buy" rating in a research note on Friday, February 27th. Piper Sandler set a $57.00 price target on Par Pacific in a research report on Monday, January 12th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Par Pacific in a report on Monday, December 29th. Finally, Raymond James Financial restated an "outperform" rating and set a $50.00 target price on shares of Par Pacific in a research note on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $49.50.

Par Pacific Stock Up 4.6%

NYSE:PARR traded up $2.34 during mid-day trading on Thursday, reaching $53.26. The company's stock had a trading volume of 921,286 shares, compared to its average volume of 1,225,557. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54. Par Pacific has a 1 year low of $12.04 and a 1 year high of $54.23. The stock has a fifty day moving average of $40.45 and a 200-day moving average of $39.07. The firm has a market capitalization of $2.61 billion, a PE ratio of 7.27 and a beta of 1.17.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The company's revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.79) EPS. Equities research analysts forecast that Par Pacific will post 0.15 earnings per share for the current year.

Institutional Trading of Par Pacific

Several large investors have recently added to or reduced their stakes in PARR. Nisa Investment Advisors LLC lifted its holdings in Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company's stock valued at $66,000 after purchasing an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Par Pacific by 1.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company's stock valued at $596,000 after buying an additional 266 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company's stock worth $94,000 after buying an additional 293 shares in the last quarter. Natixis Advisors LLC boosted its position in Par Pacific by 2.8% during the fourth quarter. Natixis Advisors LLC now owns 11,102 shares of the company's stock worth $390,000 after acquiring an additional 299 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Par Pacific by 2.5% during the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company's stock valued at $555,000 after acquiring an additional 382 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.

About Par Pacific

Par Pacific Holdings, Inc NYSE: PARR is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.

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