A "big bull stock in oil refining" that surged 138% year-to-date has been downgraded by Goldman Sachs: freight costs are starting to erode Par Pacific's (PARR.US) profitability.

Zhito Finance App has learned that the refining windfall brought by tight diesel supply remains, but further upside for U.S. refining giant Par Pacific (PARR.US), whose stock price has surged more than 138% year-to-date, now requires stronger new catalysts. On October 15, Goldman Sachs downgraded its rating from "Buy" to "Neutral," and the company's stock price ultimately fell 5.56% to close at $83.74. Despite the sharp drop, the stock was still up about 2.26% for the week through Thursday, up about 2.60% for October, and up 138.30% year-to-date; compared with the intraday high of $90.74 on October 14, the latest closing price has pulled back about 7.71%, which to some extent means that short-term profit-taking has clearly intensified, but the huge gains driven by tight energy supply amid previous Middle East geopolitical turmoil have not yet disappeared.