Yaupon Capital Management LP Sells 24,658 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Yaupon Capital Management LP reduced its holdings in Par Pacific Holdings by 5.8%, now owning 400,000 shares valued at approximately $5.7 million.
• Par Pacific's stock was down 1.3%, with a current market capitalization of $1.70 billion and a P/E ratio of -119.46.
• Despite a decreased net margin of -0.25%, Par Pacific reported an earnings per share (EPS) of $1.54, surpassing estimates by $0.80.

Yaupon Capital Management LP trimmed its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the company's stock after selling 24,658 shares during the quarter. Yaupon Capital Management LP owned approximately 0.78% of Par Pacific worth $5,704,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PARR. Millennium Management LLC boosted its holdings in shares of 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 acquiring an additional 586,003 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Par Pacific by 32.6% in 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 last quarter. Invesco Ltd. boosted its stake in Par Pacific by 6.2% in the first quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock worth $16,500,000 after purchasing an additional 67,481 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of 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 purchasing an additional 91,814 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Par Pacific in the first quarter valued at $12,750,000. Institutional investors own 92.15% of the company's stock.

Insider Buying and Selling

In other Par Pacific news, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the transaction, the insider owned 39,089 shares in the company, valued at approximately $1,348,570.50. This trade represents a 17.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Terrill Pitkin sold 5,164 shares of the company's 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 sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their ownership of the stock. 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 Trading Up 1.3%

PARR stock traded up $0.43 during midday trading on Thursday, reaching $33.70. The company's stock had a trading volume of 2,095,882 shares, compared to its average volume of 1,638,628. The business's 50-day simple moving average is $31.88 and its 200-day simple moving average is $22.76. 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 Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $36.39. The stock has a market cap of $1.71 billion, a PE ratio of -120.33 and a beta of 1.82.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The business's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler upped their price target on shares of Par Pacific from $39.00 to $44.00 and gave the stock an "overweight" rating in a research report on Thursday. Raymond James Financial boosted their target price on shares of Par Pacific from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday. Wall Street Zen lowered shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Mizuho set a $34.00 price target on shares of Par Pacific and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Cowen restated a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.82.

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.