Cubist Systematic Strategies LLC Takes Position in Par Pacific Holdings, Inc. $PARR

Cubist Systematic Strategies LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 130,861 shares of the company's stock, valued at approximately $1,866,000. Cubist Systematic Strategies LLC owned about 0.25% of Par Pacific at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after purchasing an additional 586,003 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock valued at $17,194,000 after acquiring an additional 296,536 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock valued at $16,500,000 after acquiring an additional 67,481 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Par Pacific by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock valued at $16,878,000 after acquiring an additional 91,814 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Par Pacific in the 1st quarter valued at $12,750,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Trading Down 1.1%

Par Pacific stock traded down $0.37 during trading hours on Friday, reaching $33.37. 334,020 shares of the company's stock were exchanged, compared to its average volume of 1,417,486. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The firm's 50 day simple moving average is $31.88 and its 200 day simple moving average is $22.76. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $36.39. The firm has a market capitalization of $1.70 billion, a PE ratio of -119.38 and a beta of 1.82.

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

Analyst Upgrades and Downgrades

PARR has been the subject of a number of research reports. Raymond James Financial increased their price target on Par Pacific from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a research note on Wednesday, May 28th. TD Cowen dropped 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. Zacks Research raised Par Pacific to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Piper Sandler raised their target price on Par Pacific from $39.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $29.82.

Insider Transactions at Par Pacific

In other news, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the completion of the sale, the insider directly owned 39,089 shares in the company, valued at $1,348,570.50. This trade represents a 17.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares of the company's stock, valued at approximately $614,109.01. This represents a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,954 shares of company stock valued at $796,308. 4.40% of the stock is currently owned by corporate insiders.

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.