GSA Capital Partners LLP Takes $1.70 Million Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Key Points

• GSA Capital Partners LLP has acquired a new stake in Par Pacific Holdings by purchasing 118,960 shares valued at approximately $1,696,000, representing about 0.22% of the company's ownership.
• Par Pacific reported a quarterly loss of ($0.94) earnings per share, missing estimates, despite revenue hitting $1.75 billion.
• Institutional investors hold 92.15% of Par Pacific’s stock, with multiple funds increasing their positions in the company during the first quarter.

GSA Capital Partners LLP acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 118,960 shares of the company's stock, valued at approximately $1,696,000. GSA Capital Partners LLP owned about 0.22% of Par Pacific as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC increased its holdings in Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after buying an additional 586,003 shares during the period. Nuveen Asset Management LLC grew its holdings in Par Pacific by 9.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock worth $16,878,000 after acquiring an additional 91,814 shares during the period. Bridgeway Capital Management LLC boosted its position in Par Pacific by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 797,218 shares of the company's stock worth $13,066,000 after purchasing an additional 15,240 shares in the last quarter. Solas Capital Management LLC boosted its position in Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock worth $13,030,000 after purchasing an additional 641,423 shares in the last quarter. Finally, Barclays PLC boosted its position in Par Pacific by 53.0% in the 4th quarter. Barclays PLC now owns 718,688 shares of the company's stock worth $11,779,000 after purchasing an additional 249,048 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on PARR. Wall Street Zen lowered Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Mizuho set a $34.00 price target on shares of Par Pacific and gave the stock a "neutral" rating in a report on Friday, July 11th. Piper Sandler lifted their price target on Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. 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 report on Wednesday, May 28th. Finally, Raymond James Financial set a $38.00 price target on Par Pacific and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.68.

Par Pacific Trading Down 2.8%

PARR stock traded down $0.91 during midday trading on Wednesday, hitting $31.96. 1,167,873 shares of the company's stock were exchanged, compared to its average volume of 1,137,721. The business has a 50-day simple moving average of $27.39 and a two-hundred day simple moving average of $19.59. The company has a current ratio of 1.56, a quick ratio of 0.54 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $1.65 billion, a PE ratio of -28.28 and a beta of 1.73. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $35.32.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The company's quarterly revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

About Par Pacific

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.