Par Pacific (NYSE:PARR) Given New $53.00 Price Target at The Goldman Sachs Group

Par Pacific (NYSE:PARR) had its price target lifted by The Goldman Sachs Group from $44.00 to $53.00 in a report published on Thursday,Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on PARR. Piper Sandler set a $57.00 target price on shares of Par Pacific in a report on Monday, January 12th. Zacks Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. TD Cowen lifted their target price on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 27th. Wall Street Zen lowered Par Pacific from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Par Pacific currently has an average rating of “Hold” and a consensus price target of $49.50.

Par Pacific Stock Up 4.2%

PARR stock opened at $53.08 on Thursday. Par Pacific has a fifty-two week low of $12.04 and a fifty-two week high of $54.23. The company’s 50 day moving average price is $40.81 and its 200 day moving average price is $39.17. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 7.28 and a beta of 1.17.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.79) earnings per share. On average, equities research analysts anticipate that Par Pacific will post 0.15 EPS for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new stake in shares of Par Pacific in the third quarter valued at about $44,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Par Pacific in the third quarter worth $48,000. Nisa Investment Advisors LLC increased its position in shares of Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after purchasing an additional 259 shares during the last quarter. USA Financial Formulas acquired a new stake in Par Pacific during the third quarter valued at approximately $82,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after acquiring an additional 1,048 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Company Profile

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.