Intech Investment Management LLC Acquires Shares of 17,914 Par Pacific Holdings, Inc. (NYSE:PARR)

Intech Investment Management LLC acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 17,914 shares of the company’s stock, valued at approximately $315,000.

Several other institutional investors also recently made changes to their positions in PARR. Headlands Technologies LLC boosted its position in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after purchasing an additional 796 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Par Pacific during the 2nd quarter worth $43,000. Quarry LP boosted 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 worth $60,000 after purchasing an additional 2,027 shares in the last quarter. nVerses Capital LLC boosted its position in shares of Par Pacific by 41.7% during 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 in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Par Pacific in the 2nd quarter worth about $104,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Price Performance

NYSE:PARR opened at $16.24 on Thursday. The firm has a market cap of $908.38 million, a price-to-earnings ratio of 3.15 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average is $17.25 and its two-hundred day moving average is $21.42. 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 earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was down 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.15 EPS. Research analysts expect that Par Pacific Holdings, Inc. will post 0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PARR shares. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. UBS Group decreased their price objective on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $28.00.

Par Pacific 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.