Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 49.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,206 shares of the company’s stock after selling 144,484 shares during the quarter. JPMorgan Chase & Co. owned about 0.26% of Par Pacific worth $2,573,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PARR. Pacer Advisors Inc. acquired a new position in Par Pacific during the 3rd quarter valued at approximately $61,870,000. State Street Corp grew its holdings in shares of Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Par Pacific by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after acquiring an additional 17,509 shares during the period. Millennium Management LLC raised its stake in Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after acquiring an additional 636,908 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Par Pacific by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock worth $22,591,000 after acquiring an additional 7,804 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Price Performance

Shares of NYSE PARR opened at $18.12 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 3.51 and a beta of 2.00. The firm’s 50 day simple moving average is $16.83 and its 200-day simple moving average is $19.29. Par Pacific Holdings, Inc. has a 12 month low of $14.84 and a 12 month high of $40.69.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm’s revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the business earned $3.15 earnings per share. Analysts expect that Par Pacific Holdings, Inc. will post 1.12 EPS for the current year.

Analyst Upgrades and Downgrades

PARR has been the topic of a number of research reports. The Goldman Sachs Group cut their price objective on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their price target on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Mizuho downgraded shares of Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $22.00 in a report on Monday, December 16th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $25.83.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now owns 524,610 shares in the company, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

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.