Y Intercept Hong Kong Ltd Sells 26,818 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Y Intercept Hong Kong Ltd lessened its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 59.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,580 shares of the company’s stock after selling 26,818 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Par Pacific were worth $327,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in shares of Par Pacific in the third quarter worth approximately $61,870,000. State Street Corp raised its position in Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock valued at $60,919,000 after buying an additional 328,325 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Par Pacific by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after acquiring an additional 17,509 shares in the last quarter. Millennium Management LLC boosted its holdings in Par Pacific by 48.4% during the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after acquiring an additional 636,908 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after acquiring an additional 175,331 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Analysts Set New Price Targets

PARR has been the topic of several analyst reports. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. JPMorgan Chase & Co. upgraded Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price target for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Mizuho downgraded Par Pacific from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $26.00 to $22.00 in a research note on Monday. Finally, Tudor Pickering upgraded Par Pacific to a “hold” rating in a research note on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.33.

Par Pacific Stock Performance

NYSE:PARR opened at $16.00 on Wednesday. Par Pacific Holdings, Inc. has a 1 year low of $14.84 and a 1 year high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The business has a fifty day simple moving average of $16.89 and a two-hundred day simple moving average of $20.63. The company has a market capitalization of $895.23 million, a P/E ratio of 3.10 and a beta of 1.99.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.02. The company had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.15 EPS. On average, analysts expect that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current year.

Insider Activity

In other news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the completion of the transaction, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.40% of the company’s stock.

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.