Quest Partners LLC raised its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 908.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 59,780 shares of the company's stock after buying an additional 53,850 shares during the quarter. Quest Partners LLC owned about 0.11% of Par Pacific worth $1,052,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in PARR. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company's stock valued at $53,956,000 after purchasing an additional 17,509 shares during the period. Millennium Management LLC boosted its position in Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company's stock worth $49,307,000 after purchasing an additional 636,908 shares in the last quarter. American Century Companies Inc. grew its holdings in Par Pacific by 13.9% in the second quarter. American Century Companies Inc. now owns 1,435,794 shares of the company's stock valued at $36,254,000 after purchasing an additional 175,331 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Par Pacific by 2.6% in the first quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company's stock valued at $24,010,000 after buying an additional 16,653 shares in the last quarter. Finally, Thomist Capital Management LP boosted its position in shares of Par Pacific by 50.0% in the 2nd quarter. Thomist Capital Management LP now owns 559,277 shares of the company's stock worth $13,095,000 after buying an additional 186,411 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PARR. JPMorgan Chase & Co. upgraded shares of Par Pacific from a "neutral" rating to an "overweight" rating and dropped their target price for the company from $36.00 to $30.00 in a report on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a "buy" rating to a "hold" rating in a research report on Monday, September 9th. TD Cowen reduced their price objective on Par Pacific from $36.00 to $32.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. The Goldman Sachs Group dropped their price objective on Par Pacific from $32.00 to $28.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. Finally, Piper Sandler cut shares of Par Pacific from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $28.00.
Check Out Our Latest Research Report on PARR
Par Pacific Trading Up 3.5 %
Shares of NYSE PARR traded up $0.61 during midday trading on Thursday, hitting $17.81. The stock had a trading volume of 167,365 shares, compared to its average volume of 907,182. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $996.47 million, a price-to-earnings ratio of 3.33 and a beta of 1.99. The company has a fifty day moving average price of $17.53 and a 200 day moving average price of $22.20. Par Pacific Holdings, Inc. has a 1-year low of $14.84 and a 1-year high of $40.69.
Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to analysts' expectations of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business's revenue for the quarter was down 16.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.15 earnings per share. On average, analysts predict that Par Pacific Holdings, Inc. will post 0.95 earnings per share for the current year.
About Par Pacific
(
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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