Weiss Asset Management LP Makes New $2.64 Million Investment in Par Pacific Holdings, Inc. (NYSE:PARR)

Weiss Asset Management LP bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 149,800 shares of the company's stock, valued at approximately $2,636,000. Weiss Asset Management LP owned approximately 0.27% of Par Pacific as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company's stock worth $60,919,000 after purchasing an additional 328,325 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Par Pacific by 21.7% in the third quarter. Janus Henderson Group PLC now owns 44,342 shares of the company's stock valued at $781,000 after acquiring an additional 7,903 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Par Pacific by 11.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 386,080 shares of the company's stock valued at $6,795,000 after acquiring an additional 41,100 shares in the last quarter. Cinctive Capital Management LP lifted its position in shares of Par Pacific by 67.9% in the third quarter. Cinctive Capital Management LP now owns 152,517 shares of the company's stock valued at $2,684,000 after acquiring an additional 61,668 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Par Pacific in the third quarter valued at $197,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Trading Down 1.2 %

NYSE:PARR traded down $0.19 on Friday, hitting $16.07. 596,205 shares of the stock were exchanged, compared to its average volume of 853,375. The stock has a market cap of $899.12 million, a PE ratio of 3.11 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average of $17.17 and a 200-day moving average of $21.21. Par Pacific Holdings, Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $40.69.

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

Analyst Ratings Changes

Several analysts have recently issued reports on PARR shares. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a "buy" rating to a "hold" rating in a research report on Monday, September 9th. Tudor Pickering upgraded Par Pacific to a "hold" rating in a research report on Monday, September 9th. UBS Group reduced their price objective on Par Pacific from $40.00 to $29.00 and set a "neutral" rating on the stock in a research report on Monday, August 19th. Mizuho reduced their target price on Par Pacific from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group reduced their target price on Par Pacific from $32.00 to $28.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.