Quarry LP Purchases 2,027 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Quarry LP boosted its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 610.5% during the second quarter, HoldingsChannel reports. The fund owned 2,359 shares of the company’s stock after buying an additional 2,027 shares during the quarter. Quarry LP’s holdings in Par Pacific were worth $60,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC raised its position 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 valued at $29,000 after purchasing an additional 796 shares during the period. Meeder Asset Management Inc. bought a new stake in Par Pacific during the 2nd quarter valued at $43,000. nVerses Capital LLC raised its holdings 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 during the second quarter worth $104,000. Finally, EntryPoint Capital LLC bought a new position in shares of Par Pacific in the first quarter worth $157,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PARR. The Goldman Sachs Group decreased their price objective 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. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $23.00 in a research report on Friday, September 20th. Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. UBS Group cut their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Finally, Tudor Pickering raised shares of Par Pacific to a “hold” rating in a report on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $29.00.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $19.32 on Friday. Par Pacific Holdings, Inc. has a one year low of $17.06 and a one year high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 2.42 and a beta of 1.99. The company’s fifty day moving average price is $21.40 and its 200-day moving average price is $26.55.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.36. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The company’s revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. On average, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 1.34 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.