Par Pacific (NYSE:PARR) Lowered to “Hold” at Tudor, Pickering, Holt & Co.

Tudor, Pickering, Holt & Co. lowered shares of Par Pacific (NYSE:PARR) from a buy rating to a hold rating in a research report report published on Monday morning, MarketBeat reports.

PARR has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their target price on Par Pacific from $38.00 to $36.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. UBS Group reduced their price objective on Par Pacific from $40.00 to $29.00 and set a neutral rating for the company in a report on Monday, August 19th. The Goldman Sachs Group lowered their target price 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. Piper Sandler reduced their price target on shares of Par Pacific from $43.00 to $37.00 and set an overweight rating for the company in a research note on Friday, June 14th. Finally, TD Cowen decreased their price objective on shares of Par Pacific from $36.00 to $32.00 and set a buy rating for the company in a report on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $33.17.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $18.35 on Monday. The company has a market capitalization of $1.06 billion, a PE ratio of 2.30 and a beta of 1.99. The business has a fifty day moving average price of $23.04 and a 200-day moving average price of $28.44. Par Pacific has a 1-year low of $18.00 and a 1-year 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.

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

Hedge Funds Weigh In On Par Pacific

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Par Pacific by 20.2% in the fourth quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after acquiring an additional 4,184 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Par Pacific by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock worth $23,473,000 after purchasing 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 worth $77,589,000 after purchasing an additional 12,777 shares during the period. Janney Montgomery Scott LLC lifted its position in Par Pacific by 473.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 47,560 shares of the company’s stock valued at $1,730,000 after purchasing an additional 39,263 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

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.