Par Pacific Holdings, Inc. $PARR Shares Sold by Aventail Capital Group LP

Aventail Capital Group LP decreased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 44.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 578,175 shares of the company’s stock after selling 454,116 shares during the quarter. Aventail Capital Group LP’s holdings in Par Pacific were worth $20,479,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Federated Hermes Inc. purchased a new position in shares of Par Pacific in the third quarter worth about $44,000. Aster Capital Management DIFC Ltd acquired a new position in Par Pacific during the third quarter worth about $48,000. Smartleaf Asset Management LLC grew its stake in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after acquiring an additional 1,048 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Par Pacific by 16.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after acquiring an additional 259 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in Par Pacific in the 3rd quarter valued at about $82,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Performance

NYSE:PARR opened at $53.80 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49. The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of 7.38 and a beta of 1.17. The company’s 50-day moving average is $41.17 and its two-hundred day moving average is $39.37. Par Pacific Holdings, Inc. has a 1-year low of $12.04 and a 1-year high of $54.72.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.79) EPS. Analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on PARR shares. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. The Goldman Sachs Group lifted their price objective on Par Pacific from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, TD Cowen boosted their price objective on Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $49.50.

Par Pacific Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.