TD Cowen Maintains ‘Buy’ Rating on Par Pacific Holdings, Inc. (PARR) With $35 PT Following Q2 2025 Results

With strong share price gains and significant hedge fund interest, Par Pacific Holdings, Inc. (NYSE:PARR) secures a spot on our list of the 13 Hot Oil Stocks to Buy Now.

An oil refinery at night, its chimneys creating a smoky silhouette against a starry sky.

On August 5, 2025, Par Pacific Holdings, Inc. (NYSE:PARR) reported strong performance for Q2 2025, driven by record throughput of 88 Mbpd in Hawaii, improved margins in Montana and Washington, and the completion of a Montana refinery turnaround. As a result of these key drivers, the company reported a threefold YoY increase in net income, which reached $59.5 million, and a 69% growth in adjusted EBITDA, which hit $137.8 million. Meanwhile, the company repurchased $28 million worth of shares, while recording a 23% increase in its liquidity that reached $647 million.

Following the strong quarterly performance, Raymond James reduced its price target on Par Pacific Holdings, Inc. (NYSE:PARR) from $38 to $36. However, the analyst maintained its ‘Outperform’ rating, citing strong upside from refining optimization and a planned SAF project sell-down. On the same day, TD Cowen also maintained its ‘Buy’ rating with a $35 target.

Operating across its Refining, Retail, and Logistics segments, Par Pacific Holdings, Inc. (NYSE:PARR) operates as an energy company in the U.S. It is included in our list of the hot stocks to buy.

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