Jacobs Levy Equity Management Inc. Trims Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Jacobs Levy Equity Management Inc. cut its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 96.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,122 shares of the company’s stock after selling 552,884 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Par Pacific were worth $319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PARR. SummerHaven Investment Management LLC increased its stake in shares of Par Pacific by 2.0% in the second quarter. SummerHaven Investment Management LLC now owns 28,537 shares of the company’s stock worth $721,000 after purchasing an additional 563 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Par Pacific by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 518,708 shares of the company’s stock valued at $13,097,000 after acquiring an additional 4,877 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Par Pacific by 113.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 20,896 shares of the company’s stock valued at $528,000 after acquiring an additional 11,092 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Par Pacific by 8.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,462 shares of the company’s stock valued at $363,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in Par Pacific during the second quarter valued at $104,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PARR shares. Piper Sandler cut shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their target price for the company from $37.00 to $23.00 in a research note on Friday, September 20th. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Mizuho cut their target price on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, Tudor, Pickering, Holt & Co. lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research 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 company’s stock. According to data from MarketBeat.com, Par Pacific currently has an average rating of “Hold” and a consensus target price of $28.00.

Par Pacific Price Performance

Par Pacific stock opened at $16.52 on Wednesday. The firm has a 50-day moving average price of $17.15 and a 200-day moving average price of $21.09. The firm has a market capitalization of $924.33 million, a PE ratio of 3.22 and a beta of 1.99. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 12-month low of $14.84 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last released its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business’s revenue was down 16.9% on a year-over-year basis. During the same quarter last year, the business earned $3.15 EPS. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.83 EPS for the current 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.