Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 89.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,841 shares of the company's stock after selling 128,388 shares during the quarter. Bank of Montreal Can's holdings in Par Pacific were worth $375,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PARR. Headlands Technologies LLC grew its stake in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company's stock worth $29,000 after buying an additional 796 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Par Pacific during the second quarter valued at about $43,000. nVerses Capital LLC raised its position in shares of Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. Innealta Capital LLC acquired a new stake in Par Pacific in the 2nd quarter worth approximately $104,000. Finally, Quest Partners LLC grew its position in Par Pacific by 141.3% during the 2nd quarter. Quest Partners LLC now owns 5,930 shares of the company's stock worth $150,000 after purchasing an additional 3,472 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Performance

PARR stock traded up $0.38 during trading on Friday, hitting $18.24. 752,173 shares of the company traded hands, compared to its average volume of 898,589. Par Pacific Holdings, Inc. has a 1 year low of $17.06 and a 1 year high of $40.69. The company has a market cap of $1.03 billion, a PE ratio of 2.28 and a beta of 1.98. The stock's 50-day simple moving average is $20.64 and its 200 day simple moving average is $25.84. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share 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 analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business's quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.73 EPS. On average, equities analysts expect that Par Pacific Holdings, Inc. will post 1.19 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. raised shares of Par Pacific from a "neutral" rating to an "overweight" rating and decreased their price target for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Mizuho dropped their price target on Par Pacific from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Wednesday. Tudor, Pickering, Holt & Co. lowered Par Pacific from a "buy" rating to a "hold" rating in a report on Monday, September 9th. UBS Group decreased their target price on Par Pacific from $40.00 to $29.00 and set a "neutral" rating for the company in a report on Monday, August 19th. Finally, Piper Sandler downgraded shares of Par Pacific from an "overweight" rating to a "neutral" rating and cut their price target for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Par Pacific currently has a consensus rating of "Hold" and a consensus price target of $28.00.

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.