Par Pacific (NYSE:PARR) Cut 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 note published on Monday morning, Marketbeat.com reports.

PARR has been the topic of several other reports. UBS Group dropped their price objective on shares of Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a report on Monday, August 19th. Mizuho began coverage on Par Pacific in a research report on Wednesday, July 17th. They set an outperform rating and a $33.00 price target on the stock. TD Cowen decreased their price objective on Par Pacific from $36.00 to $32.00 and set a buy rating for the company in a report on Friday, August 9th. Piper Sandler dropped their target price on Par Pacific from $43.00 to $37.00 and set an overweight rating on the stock in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. reduced their price target on Par Pacific from $38.00 to $36.00 and set a neutral rating for the company in a research report on Tuesday, July 2nd. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Par Pacific has a consensus rating of Hold and an average price target of $33.17.

Par Pacific Stock Performance

Shares of PARR stock opened at $18.28 on Monday. The business has a fifty day moving average of $23.19 and a 200 day moving average of $28.51. Par Pacific has a 1 year low of $18.24 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. 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 (NYSE:PARR) last announced its quarterly earnings data 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. The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period last year, the business posted $1.73 earnings per share. As a group, research analysts expect that Par Pacific will post 2.01 earnings per share for the current year.

Institutional Trading of Par Pacific

Several institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its position 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 valued at $35,000 after buying an additional 458 shares in the last quarter. Headlands Technologies LLC lifted its holdings in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific in the second quarter valued at about $43,000. Quarry LP increased its stake in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares in the last quarter. Finally, nVerses Capital LLC raised its position in shares of Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

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.