Tudor, Pickering, Holt & Co. Downgrades Par Pacific (NYSE:PARR) to Hold

Par Pacific (NYSE:PARR) was downgraded by investment analysts at Tudor, Pickering, Holt & Co. from a “buy” rating to a “hold” rating in a report released on Monday, Marketbeat reports.

A number of other research firms have also recently issued reports on PARR. The Goldman Sachs Group reduced their target price on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. TD Cowen lowered their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. UBS Group reduced their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Mizuho began coverage on Par Pacific in a report on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price objective on the stock. Finally, Piper Sandler reduced their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.17.

Par Pacific Trading Up 2.7 %

NYSE:PARR opened at $19.19 on Monday. The stock has a market cap of $1.11 billion, a PE ratio of 2.40 and a beta of 1.99. Par Pacific has a fifty-two week low of $18.31 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The stock’s 50-day moving average is $23.34 and its two-hundred day moving average is $28.59.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, equities research analysts forecast that Par Pacific will post 2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Par Pacific

Several hedge funds and other institutional investors have recently modified their holdings of PARR. Victory Capital Management Inc. grew its position in Par Pacific by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after purchasing an additional 4,184 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Par Pacific by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock valued at $23,473,000 after acquiring an additional 9,650 shares during the period. Dimensional Fund Advisors LP raised its holdings in Par Pacific by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock valued at $77,589,000 after acquiring an additional 12,777 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Par Pacific by 473.2% in the 4th quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock worth $1,730,000 after acquiring an additional 39,263 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

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.