Exchange Traded Concepts LLC Sells 8,586 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Exchange Traded Concepts LLC reduced its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 34.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,344 shares of the company’s stock after selling 8,586 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Par Pacific were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Headlands Technologies LLC grew its stake in shares of Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after acquiring an additional 796 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Par Pacific during the second quarter worth about $43,000. Quarry LP grew its stake in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after buying an additional 2,027 shares in the last quarter. nVerses Capital LLC grew its stake in Par Pacific by 41.7% during the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Par Pacific during the second quarter worth about $104,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PARR has been the topic of a number of analyst reports. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. The Goldman Sachs Group dropped their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Mizuho dropped their target price on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. UBS Group dropped their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Finally, Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Par Pacific Stock Down 1.7 %

Par Pacific stock opened at $17.92 on Monday. 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 Holdings, Inc. has a 52-week low of $16.71 and a 52-week high of $40.69. The firm has a 50 day moving average price of $19.89 and a two-hundred day moving average price of $24.85. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 2.29 and a beta of 1.98.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter last year, the business earned $1.73 EPS. The company’s revenue was up 13.1% compared to the same quarter last year. Equities analysts predict that Par Pacific Holdings, Inc. will post 1.19 EPS for the current year.

About Par Pacific

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.