Headlands Technologies LLC Increases Stock Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Headlands Technologies LLC increased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 215.1% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,166 shares of the company’s stock after acquiring an additional 796 shares during the period. Headlands Technologies LLC’s holdings in Par Pacific were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in shares of Par Pacific by 91.4% during the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares in the last quarter. nVerses Capital LLC raised its stake in Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. Innealta Capital LLC acquired a new position in Par Pacific in the 2nd quarter valued at $104,000. EntryPoint Capital LLC acquired a new position in Par Pacific in the 1st quarter valued at $157,000. Finally, Quest Partners LLC raised its stake in Par Pacific by 141.3% in the 2nd quarter. Quest Partners LLC now owns 5,930 shares of the company’s stock valued at $150,000 after purchasing an additional 3,472 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Up 2.4 %

Shares of NYSE:PARR opened at $19.40 on Wednesday. The business has a 50-day moving average price of $22.73 and a 200 day moving average price of $27.91. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 2.43 and a beta of 1.99. Par Pacific Holdings, Inc. has a 12-month low of $18.00 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The company’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period last year, the company earned $1.73 EPS. Sell-side analysts expect that Par Pacific Holdings, Inc. will post 2.01 EPS for the current year.

Analyst Ratings Changes

PARR has been the subject of several recent research reports. The Goldman Sachs Group reduced their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. TD Cowen reduced their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Piper Sandler cut their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Finally, Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.33.

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.