Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 57.7% in the second quarter, HoldingsChannel.com reports. The fund owned 112,191 shares of the company’s stock after selling 153,237 shares during the period. Cubist Systematic Strategies LLC’s holdings in Par Pacific were worth $2,833,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PARR. Headlands Technologies LLC raised its position in shares of Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after purchasing an additional 796 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Par Pacific during the second quarter valued at approximately $43,000. Quarry LP lifted 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 acquiring an additional 2,027 shares in the last quarter. nVerses Capital LLC boosted its stake in shares of Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Par Pacific during the second quarter worth approximately $104,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PARR. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. UBS Group dropped their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Finally, Mizuho reduced their price target on Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.00.

Par Pacific Stock Performance

NYSE PARR opened at $18.24 on Friday. The stock has a fifty day simple moving average of $20.53 and a 200-day simple moving average of $25.70. 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 stock has a market cap of $1.03 billion, a PE ratio of 2.33 and a beta of 1.98. Par Pacific Holdings, Inc. has a twelve month low of $17.06 and a twelve month high of $40.69.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. Par Pacific’s revenue was up 13.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.73 earnings per share. Equities analysts anticipate that Par Pacific Holdings, Inc. will post 1.19 earnings per share for the current year.

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.