Par Pacific Holdings, Inc. $PARR Stock Position Lowered by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 71.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,903 shares of the company’s stock after selling 35,193 shares during the quarter. Hsbc Holdings PLC’s holdings in Par Pacific were worth $880,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in Par Pacific by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock worth $62,363,000 after acquiring an additional 7,280 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Par Pacific by 0.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company’s stock valued at $62,044,000 after acquiring an additional 9,470 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Par Pacific by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company’s stock valued at $42,954,000 after acquiring an additional 21,254 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Par Pacific by 13.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company’s stock valued at $35,455,000 after purchasing an additional 117,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Par Pacific by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock valued at $33,302,000 after purchasing an additional 255,173 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

PARR stock opened at $83.04 on Thursday. The firm has a 50 day simple moving average of $61.95 and a 200 day simple moving average of $55.36. Par Pacific Holdings, Inc. has a 52 week low of $26.83 and a 52 week high of $83.78. The stock has a market cap of $4.16 billion, a P/E ratio of 9.27 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62.

Par Pacific (NYSE:PARR) last released its quarterly earnings data 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). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company posted ($0.94) EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Research analysts anticipate that Par Pacific Holdings, Inc. will post 18.6 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PARR has been the topic of a number of research reports. UBS Group boosted their target price on shares of Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Mizuho raised their target price on shares of Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. The Goldman Sachs Group lifted their price target on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Piper Sandler upped their price target on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, TD Cowen increased their price objective on Par Pacific from $78.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. One equities 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

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.