Y Intercept Hong Kong Ltd Trims Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Y Intercept Hong Kong Ltd trimmed its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 59.1% in the 3rd quarter, Holdings Channel reports. The firm owned 18,580 shares of the company’s stock after selling 26,818 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Par Pacific were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PARR. Pacer Advisors Inc. bought a new stake in Par Pacific during the third quarter valued at $61,870,000. State Street Corp raised its holdings in shares of Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after acquiring an additional 328,325 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Par Pacific by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after acquiring an additional 17,509 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after purchasing an additional 636,908 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Par Pacific by 13.9% in the second quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after purchasing an additional 175,331 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Par Pacific

In other news, Director William Pate sold 67,700 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by insiders.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $16.00 on Wednesday. Par Pacific Holdings, Inc. has a 1 year low of $14.84 and a 1 year high of $40.69. The firm’s 50-day moving average is $16.89 and its 200 day moving average is $20.63. The stock has a market cap of $895.23 million, a price-to-earnings ratio of 3.10 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business’s revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.15 earnings per share. Sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 1.12 EPS for the current fiscal year.

Analysts Set New Price Targets

PARR has been the subject of a number of research reports. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $26.00 to $22.00 in a report on Monday. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. Finally, Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $37.00 to $23.00 in a research report on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.33.

About Par Pacific

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.