Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 77.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,034 shares of the company’s stock after selling 20,425 shares during the quarter. Acadian Asset Management LLC’s holdings in Par Pacific were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PARR. TD Asset Management Inc lifted its holdings in Par Pacific by 46.4% in the fourth quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock worth $3,797,000 after purchasing an additional 33,100 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of Par Pacific by 18.7% in the first quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after buying an additional 134,600 shares during the period. Paragon Associates & Paragon Associates II Joint Venture acquired a new position in Par Pacific in the 4th quarter worth approximately $1,637,000. Russell Investments Group Ltd. boosted its position in shares of Par Pacific by 14.9% in the first quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock worth $7,579,000 after buying an additional 26,485 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Par Pacific during the 1st quarter worth about $2,156,000. Institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PARR shares. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $37.00 to $23.00 in a research note on Friday. TD Cowen dropped their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Mizuho reduced their price objective on shares of Par Pacific from $30.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, September 16th. 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. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Par Pacific currently has a consensus rating of “Hold” and a consensus target price of $30.00.

Par Pacific Stock Performance

PARR opened at $19.35 on Friday. The stock’s 50 day simple moving average is $22.48 and its 200-day simple moving average is $27.69. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.09 billion, a PE ratio of 2.42 and a beta of 1.99. Par Pacific Holdings, Inc. has a 1 year low of $18.00 and a 1 year high of $40.69.

Par Pacific (NYSE:PARR) last issued 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 business had revenue of $2.02 billion for 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 firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 EPS. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 2.01 EPS for the current year.

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.