Empowered Funds LLC Decreases Stock Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Empowered Funds LLC cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 298,528 shares of the company’s stock after selling 4,874 shares during the period. Empowered Funds LLC owned approximately 0.53% of Par Pacific worth $5,254,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Headlands Technologies LLC grew its holdings in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares during the period. Meeder Asset Management Inc. acquired a new stake in Par Pacific in the second quarter valued at $43,000. Quarry LP increased its position in shares of Par Pacific by 610.5% in the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after buying an additional 2,027 shares in the last quarter. nVerses Capital LLC raised its stake 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 buying an additional 1,000 shares during 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 institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research report on Monday, September 9th. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $23.00 in a report on Friday, September 20th. The Goldman Sachs Group cut their price target on Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $28.00.

Par Pacific Trading Up 0.9 %

Shares of PARR opened at $17.65 on Monday. Par Pacific Holdings, Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a market capitalization of $987.52 million, a PE ratio of 3.42 and a beta of 1.99. The stock has a fifty day moving average of $17.61 and a two-hundred day moving average of $22.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.15 earnings per share. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 0.95 EPS for the current 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.