Y Intercept Hong Kong Ltd Cuts Stake in Par Pacific Holdings, Inc. $PARR

Y Intercept Hong Kong Ltd trimmed its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 32.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 36,074 shares of the company’s stock after selling 17,424 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Par Pacific were worth $1,278,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PARR. Farther Finance Advisors LLC boosted its stake in shares of Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after acquiring an additional 753 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Par Pacific by 157.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after purchasing an additional 976 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Par Pacific by 17.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company’s stock worth $76,000 after purchasing an additional 428 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Par Pacific during the third quarter worth $82,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Price Performance

NYSE:PARR opened at $37.77 on Friday. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $48.40. The stock’s fifty day moving average is $38.90 and its two-hundred day moving average is $36.52. The company has a market capitalization of $1.90 billion, a P/E ratio of 7.95 and a beta of 1.24. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. The firm had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.72 billion. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period last year, the company earned ($0.10) EPS. Equities analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price target (up from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Piper Sandler set a $57.00 price target on Par Pacific in a research report on Monday, January 12th. The Goldman Sachs Group increased their price target on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Finally, UBS Group boosted their price objective on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.00.

Insider Transactions at Par Pacific

In other news, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $43.15, for a total value of $4,284,104.60. Following the sale, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. The trade was a 19.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $41.22, for a total transaction of $653,254.56. Following the completion of the transaction, the executive vice president owned 54,654 shares in the company, valued at approximately $2,252,837.88. This represents a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.40% of the stock is owned by company insiders.

Par Pacific Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.