Trexquant Investment LP Purchases 173,181 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Trexquant Investment LP increased its stake in Par Pacific Holdings by 87.1%, acquiring an additional 173,181 shares, which brings its total ownership to approximately 0.72% of the company worth $5.3 million.
• Par Pacific Holdings recently reported earnings per share (EPS) of $1.54, significantly exceeding analysts' estimates, although its quarterly revenue fell by 6.2% year-over-year.
• The company's stock price opened at $34.71, representing a 2.5% increase, with a market cap of $1.76 billion and a current price target from analysts ranging from $28.96 to $38.00.

Trexquant Investment LP increased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 87.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 372,063 shares of the company's stock after buying an additional 173,181 shares during the quarter. Trexquant Investment LP owned about 0.72% of Par Pacific worth $5,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. acquired a new stake in Par Pacific in the first quarter worth approximately $194,000. Allspring Global Investments Holdings LLC lifted its position in shares of Par Pacific by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company's stock valued at $265,000 after acquiring an additional 6,522 shares during the last quarter. GAMMA Investing LLC raised its stake in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after purchasing an additional 5,887 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in Par Pacific during the 1st quarter valued at $219,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Par Pacific by 32.6% during 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 purchasing an additional 296,536 shares during the period. 92.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PARR has been the topic of a number of research reports. Wall Street Zen downgraded shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. The Goldman Sachs Group downgraded shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a research report on Wednesday, May 28th. TD Cowen decreased their price target on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Mizuho set a $34.00 target price on shares of Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. Finally, Zacks Research upgraded shares of Par Pacific to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Par Pacific has a consensus rating of "Moderate Buy" and a consensus target price of $28.96.

Insider Buying and Selling

In other Par Pacific news, insider Shawn David Flores sold 8,062 shares of the 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 transaction, the insider owned 39,089 shares of the company's stock, valued at approximately $1,348,570.50. This represents a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the completion of the transaction, the senior vice president directly owned 41,223 shares in the company, valued at $1,153,007.31. The trade was a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,954 shares of company stock worth $796,308. Corporate insiders own 4.40% of the company's stock.

Par Pacific Price Performance

Shares of Par Pacific stock traded down $0.33 during midday trading on Friday, reaching $33.83. The company had a trading volume of 1,256,275 shares, compared to its average volume of 1,585,870. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -120.81 and a beta of 1.82. The stock has a fifty day simple moving average of $31.47 and a 200 day simple moving average of $22.30. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $35.94.

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, beating analysts' consensus estimates of $0.74 by $0.80. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. Par Pacific's revenue for the quarter was down 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.49 earnings per share. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current 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.