Caxton Associates LLP Sells 22,464 Shares of Par Pacific Holdings, Inc. $PARR

Caxton Associates LLP reduced its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 13.6% during the first quarter, HoldingsChannel reports. The fund owned 143,096 shares of the company’s stock after selling 22,464 shares during the period. Caxton Associates LLP’s holdings in Par Pacific were worth $8,964,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd increased its stake in shares of Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after purchasing an additional 478 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in shares of Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after purchasing an additional 1,558 shares during the period. Federated Hermes Inc. raised its holdings in shares of Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock valued at $74,000 after purchasing an additional 866 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Finally, HB Wealth Management LLC purchased a new position in shares of Par Pacific in the 1st quarter worth approximately $205,000. 92.15% of the stock is owned by institutional investors.

Par Pacific Stock Performance

Par Pacific stock opened at $77.73 on Friday. Par Pacific Holdings, Inc. has a 12 month low of $26.83 and a 12 month high of $82.29. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The company has a fifty day moving average price of $60.38 and a two-hundred day moving average price of $54.15. The company has a market cap of $3.90 billion, a PE ratio of 8.68 and a beta of 0.82.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the prior year, the company posted ($0.94) EPS. The firm’s revenue was up 4.5% on a year-over-year basis. Research analysts expect that Par Pacific Holdings, Inc. will post 17.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PARR. Guggenheim upgraded Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. UBS Group lifted their price target on Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. TD Cowen lifted their price objective on shares of Par Pacific from $78.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.57.

About Par Pacific

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.