Quest Partners LLC Raises Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Quest Partners LLC boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 141.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,930 shares of the company’s stock after purchasing an additional 3,472 shares during the period. Quest Partners LLC’s holdings in Par Pacific were worth $150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PARR. Quadrant Capital Group LLC lifted its holdings in Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after buying an additional 458 shares during the period. nVerses Capital LLC boosted its holdings in Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares in the last quarter. Innealta Capital LLC purchased a new position in Par Pacific during the 2nd quarter valued at $104,000. EntryPoint Capital LLC bought a new position in Par Pacific in the 1st quarter worth $157,000. Finally, Range Financial Group LLC lifted its position in shares of Par Pacific by 9.8% in the 1st quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock worth $253,000 after purchasing an additional 608 shares during the period. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $18.95 on Tuesday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 2.37 and a beta of 1.99. The firm has a fifty day moving average price of $22.82 and a 200 day moving average price of $28.03. Par Pacific Holdings, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the company posted $1.73 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 2.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on PARR. TD Cowen decreased their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. The Goldman Sachs Group reduced their price target on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler lowered their price objective on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Mizuho dropped their target price on shares of Par Pacific from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Par Pacific has an average rating of “Hold” and a consensus target price of $32.33.

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.