Caxton Associates LLP cut its position in Par Pacific Holdings, Inc. (NYSE:PARR – Free Report) by 13.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,096 shares of the company’s stock after selling 22,464 shares during the period. Caxton Associates LLP owned 0.29% of Par Pacific worth $8,964,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the business. LMG Wealth Partners LLC acquired a new position in shares of Par Pacific in the fourth quarter valued at about $760,000. Massachusetts Financial Services Co. MA raised its stake in Par Pacific by 105.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock worth $2,292,000 after purchasing an additional 33,537 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Par Pacific by 22.5% in the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock valued at $17,811,000 after purchasing an additional 93,249 shares during the period. Jackson Creek Investment Advisors LLC grew its position in shares of Par Pacific by 325.0% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock worth $1,807,000 after purchasing an additional 39,329 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Par Pacific during the 4th quarter worth approximately $6,985,000. 92.15% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on PARR. Evercore raised Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. TD Cowen increased their price objective on shares of Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday, June 24th. Finally, Raymond James Financial lifted their price target on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.57.
Par Pacific Stock Down 2.1%
Par Pacific stock opened at $77.73 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 8.68 and a beta of 0.82. Par Pacific Holdings, Inc. has a 1-year low of $26.83 and a 1-year high of $82.29. The firm has a 50 day simple moving average of $60.38 and a 200 day simple moving average of $54.15.
Par Pacific (NYSE:PARR – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.94) earnings per share. On average, analysts predict that Par Pacific Holdings, Inc. will post 17.85 earnings per share for the current year.
Par Pacific Profile
Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.
In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.
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