Point72 Asia Singapore Pte. Ltd. Sells 6,532 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Point72 Asia Singapore Pte. Ltd. reduced its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 86.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,015 shares of the company’s stock after selling 6,532 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Par Pacific were worth $26,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Headlands Technologies LLC lifted its position in Par Pacific by 215.1% during the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Par Pacific in the 2nd quarter worth about $43,000. nVerses Capital LLC boosted its holdings in shares of 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 purchasing an additional 1,000 shares during the period. Innealta Capital LLC bought a new position in Par Pacific in the second quarter worth approximately $104,000. Finally, Quest Partners LLC increased its holdings 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 period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PARR has been the subject of several recent research reports. The Goldman Sachs Group decreased their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. TD Cowen dropped their target price 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. Finally, JPMorgan Chase & Co. reduced their price target on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.00.

Par Pacific Stock Performance

Shares of PARR stock opened at $17.52 on Wednesday. Par Pacific Holdings, Inc. has a 12-month low of $17.06 and a 12-month high of $40.69. The business’s fifty day simple moving average is $21.62 and its 200-day simple moving average is $26.66. 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 company has a market cap of $986.62 million, a PE ratio of 2.19 and a beta of 1.99.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.73 EPS. Analysts expect that Par Pacific Holdings, Inc. will post 1.7 earnings per share for the current fiscal year.

Par Pacific Company 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.