Aventail Capital Group LP Sells 479,272 Shares of Par Pacific Holdings, Inc. $PARR

Aventail Capital Group LP lowered its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 82.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 98,903 shares of the company’s stock after selling 479,272 shares during the period. Aventail Capital Group LP owned approximately 0.20% of Par Pacific worth $3,475,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PARR. Royal Bank of Canada boosted its stake in Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after purchasing an additional 4,525 shares during the last quarter. AQR Capital Management LLC boosted its stake in Par Pacific by 118.2% during the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after purchasing an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after purchasing an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PARR. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $77.00 in a research note on Friday, April 10th. JPMorgan Chase & Co. lifted their price target on Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Piper Sandler lifted their price target on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Finally, TD Cowen lifted their price target on Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Par Pacific Price Performance

Par Pacific stock opened at $50.84 on Thursday. Par Pacific Holdings, Inc. has a 12 month low of $25.81 and a 12 month high of $70.39. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The business’s 50 day simple moving average is $60.01 and its 200 day simple moving average is $49.74. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 5.67 and a beta of 0.83.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data 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 net margin of 6.02% and a return on equity of 34.38%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company posted ($0.94) EPS. Par Pacific’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 15.71 EPS for the current year.

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.