Par Pacific Holdings, Inc. $PARR Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 49.1% in the 1st quarter, HoldingsChannel reports. The firm owned 513,779 shares of the company’s stock after selling 495,185 shares during the quarter. Renaissance Technologies LLC’s holdings in Par Pacific were worth $32,183,000 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 the business. Wells Fargo & Company MN boosted its holdings in Par Pacific by 810.8% in the fourth quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock valued at $12,645,000 after purchasing an additional 320,326 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Par Pacific by 22.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after buying an additional 317,484 shares during the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Par Pacific during the 4th quarter valued at about $9,576,000. Goldman Sachs Group Inc. lifted its holdings in shares of Par Pacific by 36.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock valued at $33,302,000 after buying an additional 255,173 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Par Pacific by 1,391.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 267,944 shares of the company’s stock valued at $9,491,000 after buying an additional 249,982 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Evercore raised Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. UBS Group raised their price objective on shares of Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Mizuho lifted their target price on shares of Par Pacific from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Finally, Guggenheim raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Par Pacific currently has an average rating of “Moderate Buy” and an average price target of $81.57.

Par Pacific Price Performance

NYSE:PARR opened at $79.34 on Wednesday. Par Pacific Holdings, Inc. has a 52 week low of $26.83 and a 52 week high of $82.29. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $3.98 billion, a PE ratio of 8.85 and a beta of 0.82. The stock’s 50-day moving average price is $61.51 and its 200-day moving average price is $55.04.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. Par Pacific’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.94) EPS. As a group, equities analysts expect that Par Pacific Holdings, Inc. will post 18.6 EPS for the current fiscal year.

Par Pacific Company 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.