Pacer Advisors Inc. Cuts Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Pacer Advisors Inc. cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,127,966 shares of the company’s stock after selling 387,390 shares during the quarter. Pacer Advisors Inc. owned about 5.59% of Par Pacific worth $51,267,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PARR. GAMMA Investing LLC grew its stake in shares of Par Pacific by 232.5% during the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after acquiring an additional 1,167 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares in the last quarter. Quarry LP grew its stake in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after acquiring an additional 2,027 shares in the last quarter. FMR LLC grew its stake in shares of Par Pacific by 126.7% during the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after acquiring an additional 4,826 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Par Pacific during the third quarter valued at about $185,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Raymond James assumed coverage on Par Pacific in a research note on Friday. They set an “outperform” rating and a $25.00 target price for the company. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. decreased their price target on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, January 16th. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Finally, The Goldman Sachs Group decreased their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.71.

Par Pacific Stock Performance

Shares of PARR stock opened at $17.60 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $16.87 and a two-hundred day moving average of $19.01. Par Pacific Holdings, Inc. has a 52 week low of $14.84 and a 52 week high of $40.69. The company has a market cap of $984.89 million, a P/E ratio of 3.41 and a beta of 2.00.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm posted $3.15 earnings per share. Par Pacific’s quarterly revenue was down 16.9% compared to the same quarter last year. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 0.14 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the sale, the director now owns 524,610 shares of the company’s stock, valued at approximately $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.40% of the stock is currently owned by insiders.

About Par Pacific

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.