Y Intercept Hong Kong Ltd Makes New Investment in Par Pacific Holdings, Inc. $PARR

Y Intercept Hong Kong Ltd purchased a new position in Par Pacific Holdings, Inc. (NYSE:PARR) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,498 shares of the company’s stock, valued at approximately $1,419,000. Y Intercept Hong Kong Ltd owned 0.10% of Par Pacific at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in Par Pacific by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company’s stock worth $265,000 after acquiring an additional 6,522 shares in the last quarter. GAMMA Investing LLC grew its holdings in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after acquiring an additional 5,887 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Par Pacific by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after acquiring an additional 296,536 shares in the last quarter. First Citizens Bank & Trust Co. grew its holdings in Par Pacific by 213.5% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 48,121 shares of the company’s stock worth $1,277,000 after acquiring an additional 32,772 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Par Pacific by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 278,536 shares of the company’s stock worth $3,972,000 after acquiring an additional 7,294 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $39.97 on Monday. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $41.69. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2.03 billion, a P/E ratio of -142.73 and a beta of 1.74. The company has a 50 day moving average price of $35.77 and a 200 day moving average price of $28.71.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the firm posted $0.49 EPS. Par Pacific’s revenue for the quarter was down 6.2% compared to the same quarter last year. Sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PARR shares. Piper Sandler increased their target price on shares of Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. The Goldman Sachs Group increased their target price on shares of Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. TD Cowen dropped their target price on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Par Pacific in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.86.

Insider Activity

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of Par Pacific stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total transaction of $193,105.00. Following the completion of the transaction, the chief accounting officer directly owned 17,491 shares of the company’s stock, valued at $614,109.01. The trade was a 23.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total transaction of $144,437.08. Following the completion of the sale, the senior vice president directly owned 41,223 shares in the company, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is currently owned by corporate insiders.

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.