Par Pacific (NYSE:PARR) Lifted to “Hold” at Tudor Pickering

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

Several other equities analysts have also commented on the company. UBS Group reduced their price target on Par Pacific from $40.00 to $29.00 and set a neutral rating on the stock in a research report on Monday, August 19th. TD Cowen reduced their target price 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. The Goldman Sachs Group lowered their price target on shares of Par Pacific from $37.00 to $32.00 and set a neutral rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price target on shares of Par Pacific from $38.00 to $36.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Finally, Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a buy rating to a hold rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $33.17.

Par Pacific Stock Performance

Shares of PARR stock opened at $18.28 on Monday. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.06 billion, a PE ratio of 2.29 and a beta of 1.99. The company’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $28.51. Par Pacific has a 52 week low of $18.24 and a 52 week high of $40.69.

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 the consensus estimate of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.73 EPS. As a group, equities research analysts anticipate that Par Pacific will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PARR. Victory Capital Management Inc. grew its holdings in Par Pacific by 20.2% during the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Par Pacific by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 645,394 shares of the company’s stock worth $23,473,000 after acquiring an additional 9,650 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 buying an additional 12,777 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Par Pacific by 473.2% in the 4th 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 last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Par Pacific by 91.4% in the 4th 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 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.