Par Pacific (NYSE:PARR) Upgraded by Tudor, Pickering, Holt & Co. to Buy Rating

by · The Markets Daily

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

PARR has been the topic of several other research reports. Cowen reaffirmed a “buy” rating on shares of Par Pacific in a research report on Thursday, August 7th. Piper Sandler boosted their target price on shares of Par Pacific from $39.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday, September 11th. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. UBS Group boosted their price objective on shares of Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Par Pacific in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.29.

Get Our Latest Report on Par Pacific

Par Pacific Trading Up 1.0%

NYSE:PARR traded up $0.41 during mid-day trading on Thursday, hitting $41.16. 1,234,327 shares of the stock traded hands, compared to its average volume of 1,387,438. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. Par Pacific has a 52 week low of $11.86 and a 52 week high of $41.82. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -146.99 and a beta of 1.74. The firm’s 50 day moving average is $36.32 and its two-hundred day moving average is $29.24.

Par Pacific (NYSE:PARR – Get Free Report) last announced its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $3.97. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, equities research analysts predict that Par Pacific will post 0.15 earnings per share for the current year.

Insider Activity at Par Pacific

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the transaction, the chief accounting officer owned 17,491 shares in the company, valued at $614,109.01. This trade represents a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of Par Pacific stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the sale, the insider directly owned 24,679 shares in the company, valued at $852,659.45. This represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,802 shares of company stock valued at $1,516,303 in the last ninety days. 4.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARR. Farther Finance Advisors LLC grew its position in Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after acquiring an additional 753 shares during the period. Signaturefd LLC lifted its stake in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock valued at $34,000 after purchasing an additional 986 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Par Pacific during the 1st quarter worth $35,000. Parallel Advisors LLC increased its position in shares of Par Pacific by 232.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock worth $35,000 after purchasing an additional 927 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Par Pacific by 157.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after purchasing an additional 976 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Company Profile

(Get Free Report)

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.

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