Verition Fund Management LLC Invests $197,000 in Par Pacific Holdings, Inc. (NYSE:PARR)

Verition Fund Management LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 11,211 shares of the company’s stock, valued at approximately $197,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PARR. Walleye Capital LLC lifted its holdings in Par Pacific by 1,014.3% during the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company’s stock worth $4,820,000 after purchasing an additional 249,290 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Par Pacific by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 48,221 shares of the company’s stock worth $849,000 after purchasing an additional 921 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Par Pacific by 7.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company’s stock worth $2,248,000 after purchasing an additional 8,844 shares during the last quarter. FORA Capital LLC acquired a new stake in Par Pacific during the 3rd quarter worth approximately $313,000. Finally, BNP Paribas Financial Markets lifted its holdings in Par Pacific by 196.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 44,416 shares of the company’s stock worth $782,000 after purchasing an additional 29,435 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PARR. The Goldman Sachs Group dropped 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. StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $37.00 to $23.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $26.00 to $22.00 in a report on Monday. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Par Pacific has a consensus rating of “Hold” and an average target price of $27.33.

Par Pacific Trading Down 6.5 %

Shares of PARR stock opened at $15.39 on Tuesday. The firm has a market capitalization of $861.07 million, a P/E ratio of 2.98 and a beta of 1.99. Par Pacific Holdings, Inc. has a twelve month low of $14.84 and a twelve month high of $40.69. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The stock’s fifty day simple moving average is $16.92 and its 200 day simple moving average is $20.71.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for 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%. Par Pacific’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.15 EPS. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.40% of the company’s stock.

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.