Par Pacific Holdings, Inc. (NYSE:PARR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 85.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,691 shares of the company’s stock after selling 61,437 shares during the quarter. Victory Capital Management Inc.’s holdings in Par Pacific were worth $175,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Par Pacific by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company’s stock valued at $14,902,000 after buying an additional 167,594 shares during the period. US Bancorp DE raised its holdings in Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Par Pacific during the fourth quarter worth $236,000. New York State Common Retirement Fund raised its holdings in Par Pacific by 19.1% during the fourth quarter. New York State Common Retirement Fund now owns 28,694 shares of the company’s stock worth $470,000 after purchasing an additional 4,600 shares during the last quarter. Finally, Sanctuary Advisors LLC raised its holdings in Par Pacific by 126.2% during the fourth quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company’s stock worth $843,000 after purchasing an additional 27,480 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PARR. JPMorgan Chase & Co. reduced their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Raymond James began coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective for the company. TD Cowen reduced their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. The Goldman Sachs Group reduced their price objective on Par Pacific from $20.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com cut Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.57.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $14.25 on Monday. The company has a market cap of $780.38 million, a P/E ratio of 2.76 and a beta of 2.01. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $40.20. The business has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $16.72.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 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.