MQS Management LLC Buys New Shares in Par Pacific Holdings, Inc. (NYSE:PARR)

MQS Management LLC bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,526 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PARR. GSA Capital Partners LLP bought a new stake in Par Pacific in the third quarter valued at $925,000. Harbor Capital Advisors Inc. increased its stake in Par Pacific by 160.2% in the third quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company’s stock valued at $9,033,000 after purchasing an additional 315,967 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Par Pacific by 2.4% in the third quarter. Janney Montgomery Scott LLC now owns 52,804 shares of the company’s stock valued at $929,000 after purchasing an additional 1,226 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Par Pacific by 2.6% in the third quarter. State of Alaska Department of Revenue now owns 32,145 shares of the company’s stock valued at $565,000 after purchasing an additional 810 shares in the last quarter. Finally, Private Advisor Group LLC increased its stake in Par Pacific by 60.4% in the third quarter. Private Advisor Group LLC now owns 21,213 shares of the company’s stock valued at $373,000 after purchasing an additional 7,987 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PARR shares. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. TD Cowen decreased their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group decreased their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. The Goldman Sachs Group decreased their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $23.00 in a research report on Friday, September 20th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Performance

NYSE:PARR opened at $17.65 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. Par Pacific Holdings, Inc. has a 52-week low of $14.84 and a 52-week high of $40.69. The firm has a market cap of $987.52 million, a price-to-earnings ratio of 3.42 and a beta of 1.99. The business’s fifty day moving average is $17.61 and its 200 day moving average is $22.54.

Par Pacific (NYSE:PARR) last announced its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for 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 company’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 EPS. Research analysts predict that Par Pacific Holdings, Inc. will post 0.95 EPS for the current year.

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.