XTX Topco Ltd Increases Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Key Points

• XTX Topco Ltd has increased its stake in Par Pacific Holdings, Inc. by 104.8% during the first quarter, now owning 89,448 shares worth approximately $1.28 million.
• Par Pacific's recent financial performance shows a loss of $0.94 per share for the latest quarter, missing analyst expectations, with a revenue of $1.75 billion, down 11.9% year-over-year.
• Analysts have mixed ratings on PARR stock, with an average target price of $26.68, indicating a consensus rating of "Hold".

XTX Topco Ltd grew its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 104.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,448 shares of the company's stock after acquiring an additional 45,774 shares during the period. XTX Topco Ltd owned 0.16% of Par Pacific worth $1,276,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PARR. GSA Capital Partners LLP bought a new position in shares of Par Pacific in the first quarter worth $1,696,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Par Pacific by 27.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,405 shares of the company's stock worth $262,000 after purchasing an additional 3,943 shares during the period. Readystate Asset Management LP increased its holdings in shares of Par Pacific by 25.2% in the first quarter. Readystate Asset Management LP now owns 29,698 shares of the company's stock worth $423,000 after purchasing an additional 5,978 shares during the period. Signaturefd LLC increased its holdings in shares of 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 purchasing an additional 986 shares during the period. Finally, CWM LLC increased its holdings in shares of Par Pacific by 117.5% in the first quarter. CWM LLC now owns 7,158 shares of the company's stock worth $102,000 after purchasing an additional 3,867 shares during the period. Hedge funds and other institutional investors own 92.15% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Raymond James Financial set a $38.00 target price on Par Pacific and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Piper Sandler increased their target price on Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Mizuho set a $34.00 target price on Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Wall Street Zen cut Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $26.68.

Par Pacific Trading Down 11.1%

Shares of NYSE PARR traded down $3.39 during trading hours on Wednesday, hitting $27.09. The company's stock had a trading volume of 1,368,936 shares, compared to its average volume of 1,378,187. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.54 and a current ratio of 1.56. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $35.32. The business has a 50-day simple moving average of $28.31 and a 200-day simple moving average of $20.03. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of -23.88 and a beta of 1.83.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.80. The business had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.47 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The business's revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. On average, analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share 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.