Point72 Asia Singapore Pte. Ltd. Reduces Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Point72 Asia Singapore Pte. Ltd. decreased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 86.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,015 shares of the company’s stock after selling 6,532 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Par Pacific were worth $26,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PARR. Headlands Technologies LLC raised its stake in shares of Par Pacific by 215.1% in the second 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. purchased a new position in Par Pacific during the 2nd quarter worth approximately $43,000. nVerses Capital LLC lifted its stake in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the period. Innealta Capital LLC purchased a new stake in shares of Par Pacific in the 2nd quarter valued at $104,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Par Pacific in the first quarter worth $157,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PARR has been the topic of several recent research reports. UBS Group lowered their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. The Goldman Sachs Group lowered their target price on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. lowered their price objective on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Tudor Pickering raised shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Seven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.00.

Par Pacific Stock Down 0.5 %

Shares of PARR opened at $17.52 on Wednesday. The firm has a market cap of $986.62 million, a P/E ratio of 2.19 and a beta of 1.99. Par Pacific Holdings, Inc. has a 12 month low of $17.06 and a 12 month high of $40.69. The stock’s 50 day moving average is $21.62 and its two-hundred day moving average is $26.66. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 EPS. Analysts predict that Par Pacific Holdings, Inc. will post 1.7 earnings per share for the current fiscal year.

Par Pacific 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.