Jacobs Levy Equity Management Inc. Sells 552,884 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Jacobs Levy Equity Management Inc. trimmed its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 96.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,122 shares of the company's stock after selling 552,884 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in Par Pacific were worth $319,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PARR. SummerHaven Investment Management LLC boosted its stake in shares of Par Pacific by 2.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company's stock valued at $721,000 after purchasing an additional 563 shares in the last quarter. Headlands Technologies LLC raised its position in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock worth $29,000 after acquiring an additional 796 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Par Pacific by 2.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company's stock valued at $565,000 after purchasing an additional 810 shares during the period. Martingale Asset Management L P boosted its position in shares of Par Pacific by 1.9% during the third quarter. Martingale Asset Management L P now owns 48,221 shares of the company's stock valued at $849,000 after purchasing an additional 921 shares in the last quarter. Finally, Simplicity Wealth LLC grew its stake in Par Pacific by 6.6% in the third quarter. Simplicity Wealth LLC now owns 14,872 shares of the company's stock worth $262,000 after purchasing an additional 923 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

PARR stock traded up $0.18 on Wednesday, hitting $16.71. The company had a trading volume of 502,073 shares, compared to its average volume of 904,502. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 12-month low of $14.84 and a 12-month high of $40.69. The stock has a market cap of $934.68 million, a price-to-earnings ratio of 3.20 and a beta of 1.99. The stock's 50-day simple moving average is $17.13 and its 200 day simple moving average is $21.01.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $3.15 EPS. The company's revenue for the quarter was down 16.9% on a year-over-year basis. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PARR shares. Tudor Pickering raised shares of Par Pacific to a "hold" rating in a research note on Monday, September 9th. Mizuho lowered their price objective on Par Pacific from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Wednesday, October 9th. Piper Sandler cut Par Pacific from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. StockNews.com upgraded shares of Par Pacific from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Finally, Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a "buy" rating to a "hold" rating in a research report on Monday, September 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $28.00.

Par Pacific 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.