Par Pacific (NYSE:PARR) Stock Rating Lowered by 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 note published on Monday, MarketBeat Ratings reports.

PARR has been the topic of a number of other research reports. TD Cowen lowered their price objective on Par Pacific from $36.00 to $32.00 and set a buy rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their price target on shares of Par Pacific from $38.00 to $36.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Piper Sandler cut their price objective 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. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $37.00 to $32.00 and set a neutral rating on the stock in a report on Wednesday, July 31st. Finally, UBS Group cut their price target on shares of Par Pacific from $40.00 to $29.00 and set a neutral rating for the company in a report on Monday, August 19th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Par Pacific has a consensus rating of Hold and a consensus target price of $33.17.

Par Pacific Price Performance

Par Pacific stock opened at $18.28 on Monday. The company has a fifty day simple moving average of $23.19 and a 200-day simple moving average of $28.51. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of 2.29 and a beta of 1.99. Par Pacific has a 52-week low of $18.24 and a 52-week high of $40.69.

Par Pacific (NYSE:PARR) last released 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. The company had revenue of $2.02 billion during 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%. Par Pacific’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. On average, equities analysts anticipate that Par Pacific will post 2.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its stake in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares in the last quarter. Quadrant Capital Group LLC increased 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 purchasing an additional 458 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific during the second quarter worth about $43,000. Quarry LP boosted its stake in shares of Par Pacific by 610.5% in the second 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 shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares in the last quarter. 92.15% of the stock is currently 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.