AlphaQuest LLC Acquires 10,453 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• AlphaQuest LLC significantly increased its stake in Par Pacific Holdings by 1,072.1%, acquiring an additional 10,453 shares, bringing its total to 11,428 shares valued at approximately $163,000.
• Recent research indicates mixed analyst sentiments about Par Pacific, with one firm downgrading it to a "buy" and price targets ranging from $26.00 to $38.00.
• Despite reporting a quarterly earnings surge to $1.54 per share, Par Pacific's revenue fell by 6.2% compared to the same quarter last year, amounting to $1.89 billion.

AlphaQuest LLC raised its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 1,072.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,428 shares of the company's stock after acquiring an additional 10,453 shares during the period. AlphaQuest LLC's holdings in Par Pacific were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PARR. Signaturefd LLC grew its position in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after purchasing an additional 986 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Par Pacific during the 1st quarter worth about $35,000. CWM LLC lifted its holdings in shares of Par Pacific by 117.5% in the first quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after purchasing an additional 3,867 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after buying an additional 5,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Par Pacific by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock valued at $117,000 after buying an additional 2,884 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Stock Down 0.7%

Shares of PARR traded down $0.24 on Thursday, reaching $34.86. The company's stock had a trading volume of 614,958 shares, compared to its average volume of 1,414,446. The stock has a market capitalization of $1.77 billion, a PE ratio of -124.50 and a beta of 1.82. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.94. The firm has a fifty day moving average of $31.17 and a 200-day moving average of $22.01.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company earned $0.49 earnings per share. The company's revenue for the quarter was down 6.2% on a year-over-year basis. Equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the transaction, the senior vice president directly owned 41,223 shares in the company, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the transaction, the chief accounting officer owned 17,491 shares in the company, valued at approximately $614,109.01. This trade represents a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,954 shares of company stock valued at $796,308 in the last 90 days. Insiders own 4.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PARR. The Goldman Sachs Group downgraded shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a report on Wednesday, May 28th. TD Cowen decreased their price target on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Mizuho set a $34.00 target price on shares of Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. Piper Sandler increased their price target on shares of Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Zacks Research raised shares of Par Pacific to a "strong-buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.96.

Par Pacific 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.