Par Pacific (NYSE:PARR) Stock Rating Upgraded by Tudor Pickering

Tudor Pickering upgraded shares of Par Pacific (NYSE:PARR) to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

Other analysts have also issued reports about the company. Mizuho began coverage on Par Pacific in a report on Wednesday, July 17th. They issued an outperform rating and a $33.00 price target on the stock. The Goldman Sachs Group decreased their price target 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 cut their price objective 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. Piper Sandler decreased their target price on shares of Par Pacific from $43.00 to $37.00 and set an overweight rating for the company in a research report on Friday, June 14th. Finally, Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a buy rating to a hold rating in a research report on Monday. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $33.17.

Par Pacific Trading Up 0.4 %

NYSE:PARR opened at $18.35 on Monday. The business’s 50-day simple moving average is $23.04 and its 200-day simple moving average is $28.44. Par Pacific has a fifty-two week low of $18.00 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 has a market capitalization of $1.06 billion, a PE ratio of 2.30 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.73 earnings per share. Sell-side analysts expect that Par Pacific will post 2.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC raised its holdings in Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares during the period. Meeder Asset Management Inc. acquired a new stake in Par Pacific during the 2nd quarter worth approximately $43,000. Quarry LP boosted its stake in Par Pacific by 610.5% in the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the period. Finally, nVerses Capital LLC grew its holdings in Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.