Teacher Retirement System of Texas Cuts Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Teacher Retirement System of Texas lessened its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 16.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,317 shares of the company’s stock after selling 5,469 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of Par Pacific worth $404,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Sterling Capital Management LLC grew its holdings in Par Pacific by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after purchasing an additional 1,528 shares during the period. US Bancorp DE lifted its position in shares of Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares in the last quarter. Quadrant Capital Group LLC increased its stake in shares of Par Pacific by 123.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after buying an additional 1,784 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Par Pacific by 352.7% in the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after buying an additional 5,887 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in shares of Par Pacific during the fourth quarter worth $183,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Mizuho set a $34.00 price objective on shares of Par Pacific and gave the company a “neutral” rating in a research note on Friday, July 11th. Piper Sandler raised their price target on shares of Par Pacific from $26.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Wall Street Zen lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, June 6th. Finally, The Goldman Sachs Group cut shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.68.

Par Pacific Trading Down 1.3%

PARR opened at $32.32 on Friday. The stock has a market capitalization of $1.67 billion, a P/E ratio of -28.60 and a beta of 1.73. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $35.32. The firm’s fifty day simple moving average is $25.38 and its 200 day simple moving average is $18.72. The company has a current ratio of 1.56, a quick ratio of 0.54 and a debt-to-equity ratio of 1.04.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, May 5th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.49 billion. Par Pacific had a negative net margin of 0.77% and a negative return on equity of 5.87%. Par Pacific’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.69 earnings per share. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

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.