Cubist Systematic Strategies LLC Sells 153,237 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Cubist Systematic Strategies LLC decreased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 57.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,191 shares of the company’s stock after selling 153,237 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Par Pacific were worth $2,833,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in Par Pacific by 17.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock worth $252,000 after buying an additional 1,024 shares in the last quarter. Franklin Resources Inc. raised its position in Par Pacific by 55.1% during the 4th quarter. Franklin Resources Inc. now owns 33,992 shares of the company’s stock worth $1,236,000 after buying an additional 12,071 shares during the last quarter. US Bancorp DE lifted its stake in Par Pacific by 1,652.4% during the 4th quarter. US Bancorp DE now owns 16,841 shares of the company’s stock valued at $613,000 after acquiring an additional 15,880 shares during the period. Hsbc Holdings PLC increased its stake in shares of Par Pacific by 14.9% in the fourth quarter. Hsbc Holdings PLC now owns 297,548 shares of the company’s stock worth $10,863,000 after acquiring an additional 38,572 shares during the period. Finally, TD Asset Management Inc lifted its position in Par Pacific by 46.4% during the fourth quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock valued at $3,797,000 after purchasing an additional 33,100 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PARR shares. Mizuho decreased their price objective on Par Pacific from $30.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $23.00 in a research note on Friday, September 20th. TD Cowen lowered their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group reduced their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.00.

Par Pacific Price Performance

Par Pacific stock opened at $17.86 on Monday. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.01 billion, a P/E ratio of 2.24 and a beta of 1.99. The company has a 50-day moving average price of $21.87 and a 200 day moving average price of $26.93. Par Pacific Holdings, Inc. has a 12-month low of $17.06 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 earnings per share. Sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 1.7 earnings per share for the current year.

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.