Victory Capital Management Inc. Lowers Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Victory Capital Management Inc. lowered its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 17.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,128 shares of the company’s stock after selling 14,752 shares during the period. Victory Capital Management Inc. owned approximately 0.13% of Par Pacific worth $1,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PARR. Headlands Technologies LLC increased its holdings in shares of 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 acquiring an additional 796 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Par Pacific in the second quarter worth about $43,000. Quarry LP increased its position in shares of Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the period. Finally, Innealta Capital LLC purchased a new position in shares of Par Pacific in the second quarter worth approximately $104,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Down 1.6 %

NYSE PARR opened at $17.34 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 52 week low of $14.84 and a 52 week high of $40.69. The business’s fifty day simple moving average is $17.42 and its 200-day simple moving average is $21.81. The firm has a market cap of $970.17 million, a PE ratio of 3.36 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released 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 business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the business posted $3.15 earnings per share. The company’s quarterly revenue was down 16.9% on a year-over-year basis. As a group, equities analysts anticipate that Par Pacific Holdings, Inc. will post 0.95 earnings per share for the current year.

Analyst Ratings Changes

PARR has been the topic of several recent research reports. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $23.00 in a report on Friday, September 20th. Mizuho dropped their price target on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Par Pacific presently has an average rating of “Hold” and an average price target of $28.00.

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.