Tudor Pickering Upgrades Par Pacific (NYSE:PARR) to Hold

Par Pacific (NYSE:PARR) was upgraded by Tudor Pickering to a “hold” rating in a research report issued on Monday, Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lowered their price objective on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. UBS Group lowered their price objective on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. TD Cowen lowered 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 note on Friday, August 9th. The Goldman Sachs Group lowered their price objective on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Piper Sandler lowered their price objective on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $33.17.

Par Pacific Stock Performance

Shares of PARR stock opened at $19.19 on Monday. Par Pacific has a one year low of $18.31 and a one year high of $40.69. The company’s 50-day moving average is $23.34 and its 200 day moving average is $28.59. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 2.40 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.73 EPS. Sell-side analysts expect that Par Pacific will post 2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Par Pacific by 20.2% during the fourth quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after buying an additional 4,184 shares during the period. Charles Schwab Investment Management Inc. boosted 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 worth $23,473,000 after buying an additional 9,650 shares during the period. Dimensional Fund Advisors LP boosted its stake in Par Pacific by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,133,303 shares of the company’s stock worth $77,589,000 after buying an additional 12,777 shares during the period. Janney Montgomery Scott LLC boosted its stake in Par Pacific by 473.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock worth $1,730,000 after buying an additional 39,263 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in 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 buying an additional 458 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Company Profile

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.