Janus Henderson Group PLC Sells 30,657 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Janus Henderson Group cut its Par Pacific Holdings stake by 55.7%, selling 30,657 shares and retaining 24,337 shares worth approximately $1.53 million.
• Other institutions, including AQR Capital Management and Jane Street, increased their positions; institutional investors collectively own 92.15% of PARR’s outstanding shares.
• Par Pacific reported quarterly EPS of $10.10, exceeding estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion. Analysts maintain a Moderate Buy consensus with an average price target of $80.86.

Janus Henderson Group PLC lessened its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 55.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,337 shares of the company's stock after selling 30,657 shares during the quarter. Janus Henderson Group PLC's holdings in Par Pacific were worth $1,525,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PARR. Royal Bank of Canada boosted its holdings in shares of Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company's stock worth $334,000 after purchasing an additional 4,525 shares during the period. AQR Capital Management LLC lifted its stake in shares of Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company's stock valued at $2,344,000 after purchasing an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Par Pacific by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company's stock valued at $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company's stock valued at $2,085,000 after purchasing an additional 6,618 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock worth $3,862,000 after purchasing an additional 211,002 shares during the period. 92.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. TD Cowen decreased their price objective on Par Pacific from $100.00 to $95.00 and set a "buy" rating for the company in a report on Friday. Benchmark reaffirmed a "buy" rating on shares of Par Pacific in a research report on Wednesday, July 8th. Zacks Research cut shares of Par Pacific from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Finally, The Goldman Sachs Group raised their target price on shares of Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.86.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $66.32 on Monday. The firm's 50-day moving average price is $64.79 and its 200-day moving average price is $57.34. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.32 billion, a PE ratio of 3.87 and a beta of 0.78. Par Pacific Holdings, Inc. has a 52-week low of $26.92 and a 52-week high of $87.03.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, topping analysts' consensus estimates of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business posted $1.54 earnings per share. The business's revenue for the quarter was up 56.8% on a year-over-year basis. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 19.35 EPS for the current year.

Par Pacific Company 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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