Aventail Capital Group LP Lowers Holdings in Par Pacific Holdings, Inc. $PARR

Key Points

• Aventail Capital Group LP cut its Par Pacific stake by 44.0%, selling 454,116 shares and retaining 578,175 shares (about 1.15% of the company) worth roughly $20.48 million per its latest 13F filing.
• Par Pacific reported $1.17 EPS for the quarter (missed by $0.04) with revenue of $1.81 billion (beat estimates), a 30.19% ROE and a net margin of 4.95%; the stock opened at $53.80, trades near its 12‑month high, has a market cap of $2.64 billion and a P/E of 7.38.
• Analyst sentiment is mixed—four Buy ratings and five Hold ratings yield an average rating of "Hold" with an average price target of $49.50.

Aventail Capital Group LP decreased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 44.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 578,175 shares of the company's stock after selling 454,116 shares during the quarter. Aventail Capital Group LP owned 1.15% of Par Pacific worth $20,479,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Par Pacific in the third quarter valued at $44,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Par Pacific during the 3rd quarter worth about $48,000. Nisa Investment Advisors LLC boosted its stake in shares of Par Pacific by 16.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company's stock worth $66,000 after acquiring an additional 259 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Par Pacific during the 3rd quarter valued at about $82,000. Finally, Smartleaf Asset Management LLC grew its position in shares of Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock valued at $62,000 after acquiring an additional 1,048 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Trading Up 1.2%

PARR stock opened at $53.80 on Friday. Par Pacific Holdings, Inc. has a 12-month low of $12.04 and a 12-month high of $54.72. The business's 50-day moving average is $41.17 and its 200 day moving average is $39.37. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 7.38 and a beta of 1.17.

Par Pacific (NYSE:PARR - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.04). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. Par Pacific's revenue was down 1.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.79) EPS. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Wall Street Zen raised Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday. Piper Sandler set a $57.00 price objective on Par Pacific in a report on Monday, January 12th. Weiss Ratings restated a "hold (c+)" rating on shares of Par Pacific in a research report on Monday, December 29th. Zacks Research downgraded Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 16th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $50.00 target price on shares of Par Pacific in a research report on Wednesday, February 25th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Par Pacific presently has an average rating of "Hold" and an average price target of $49.50.

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.

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