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

Y Intercept Hong Kong Ltd lessened its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 32.6% in the 3rd quarter, according to the company in its most recent 13F 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 owned approximately 0.07% of Par Pacific worth $1,278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PARR. Farther Finance Advisors LLC increased its position in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after buying an additional 753 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Par Pacific by 157.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after acquiring an additional 976 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Par Pacific in the 3rd quarter valued at approximately $82,000. Smartleaf Asset Management LLC boosted its stake in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its position 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. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Stock Performance

PARR opened at $37.77 on Friday. The firm has a fifty day moving average price of $38.90 and a 200 day moving average price of $36.52. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $48.40. The stock has a market cap of $1.90 billion, a P/E ratio of 7.95 and a beta of 1.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48.

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

Analyst Upgrades and Downgrades

PARR has been the topic of a number of research analyst reports. Tudor, Pickering, Holt & Co. raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Mizuho increased their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Piper Sandler set a $57.00 target price on Par Pacific in a report on Monday, January 12th. UBS Group upped their target price on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday, November 5th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $45.00 price objective (up previously from $38.00) on shares of Par Pacific in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Insider Activity

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

About Par Pacific

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 O?ahu, 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.