Hsbc Holdings PLC Sells 129,045 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Hsbc Holdings PLC reduced its stake in Par Pacific Holdings by 42.3%, selling 129,045 shares and owning a total of 176,281 shares valued at approximately $2.55 million as of the latest SEC filing.
• Despite Hsbc's sale, other institutional investors increased their positions, with First Trust Advisors LP raising its holdings by 57.2% in the fourth quarter.
• Par Pacific reported $1.54 earnings per share for the last quarter, exceeding analysts' expectations, and its revenue was $1.89 billion, although down 6.2% year-over-year.

Hsbc Holdings PLC lowered its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 42.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 176,281 shares of the company's stock after selling 129,045 shares during the period. Hsbc Holdings PLC owned 0.34% of Par Pacific worth $2,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Par Pacific by 70.2% in the first quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after acquiring an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Par Pacific during the 1st quarter worth approximately $35,000. CWM LLC increased its holdings in Par Pacific by 117.5% during the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock worth $102,000 after purchasing an additional 3,867 shares in the last quarter. GAMMA Investing LLC increased its holdings in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after purchasing an additional 5,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Par Pacific by 54.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock worth $117,000 after purchasing an additional 2,884 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

Insider Transactions at Par Pacific

In related news, SVP Terrill Pitkin sold 5,164 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $27.97, for a total value of $144,437.08. Following the sale, the senior vice president directly owned 41,223 shares in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.40% of the company's stock.

Par Pacific Stock Performance

Par Pacific stock traded up $0.84 during midday trading on Monday, reaching $34.71. The stock had a trading volume of 1,698,994 shares, compared to its average volume of 1,693,770. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $35.32. The firm's 50-day moving average price is $30.83 and its 200 day moving average price is $21.82. The firm has a market capitalization of $1.76 billion, a PE ratio of -123.96 and a beta of 1.82. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) 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 business had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the previous year, the business posted $0.49 EPS. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. As a group, research analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PARR. Mizuho set a $34.00 target price on Par Pacific and gave the stock a "neutral" rating in a research note on Friday, July 11th. TD Cowen dropped their price target on Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Cowen restated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research note on Wednesday, May 28th. Finally, Piper Sandler boosted their price target on shares of Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.