Par Pacific Holdings, Inc. (NYSE:PARR) Holdings Cut by Hsbc Holdings PLC

Hsbc Holdings PLC cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 76.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,066 shares of the company’s stock after selling 276,116 shares during the quarter. Hsbc Holdings PLC owned approximately 0.14% of Par Pacific worth $2,111,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in PARR. SummerHaven Investment Management LLC lifted its position in Par Pacific by 2.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock valued at $721,000 after purchasing an additional 563 shares during the last quarter. Range Financial Group LLC raised its holdings in shares of Par Pacific by 9.8% during the first quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after buying an additional 608 shares during the last quarter. Simplicity Wealth LLC boosted its position in shares of Par Pacific by 5.1% during the second quarter. Simplicity Wealth LLC now owns 13,949 shares of the company’s stock worth $352,000 after buying an additional 677 shares during the period. Linden Thomas Advisory Services LLC grew its holdings in Par Pacific by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 43,892 shares of the company’s stock worth $1,108,000 after buying an additional 703 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Par Pacific by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 11,154 shares of the company’s stock valued at $413,000 after acquiring an additional 768 shares during the period. 92.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Tudor Pickering raised shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. 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. Finally, UBS Group cut their target price 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. 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, the stock presently has a consensus rating of “Hold” and an average price target of $30.00.

Par Pacific Price Performance

NYSE PARR opened at $17.57 on Friday. Par Pacific Holdings, Inc. has a 1 year low of $17.06 and a 1 year high of $40.69. The business’s fifty day moving average is $21.98 and its two-hundred day moving average is $27.20. The stock has a market capitalization of $989.72 million, a P/E ratio of 2.20 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63.

Par Pacific (NYSE:PARR) last announced its earnings results 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. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same period in the previous year, the firm earned $1.73 earnings per share. Par Pacific’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 1.7 earnings per share for the current fiscal 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.