JPMorgan Chase & Co. Decreases Position in Par Pacific Holdings, Inc. (NYSE:PARR)

JPMorgan Chase & Co. reduced its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 49.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 146,206 shares of the company’s stock after selling 144,484 shares during the period. JPMorgan Chase & Co.’s holdings in Par Pacific were worth $2,573,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP increased its position in shares of Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares in the last quarter. FMR LLC boosted its stake in Par Pacific by 126.7% during the 3rd quarter. FMR LLC now owns 8,634 shares of the company’s stock worth $152,000 after purchasing an additional 4,826 shares during the last quarter. MQS Management LLC purchased a new stake in shares of Par Pacific during the third quarter worth $185,000. Verition Fund Management LLC acquired a new stake in shares of Par Pacific in the third quarter valued at about $197,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of Par Pacific in the third quarter worth about $212,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Insiders Place Their Bets

In other Par Pacific news, Director William Pate sold 67,700 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the sale, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. The trade was a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.40% of the stock is currently owned by insiders.

Par Pacific Trading Up 1.7 %

PARR opened at $18.12 on Tuesday. The stock has a market capitalization of $1.01 billion, a PE ratio of 3.51 and a beta of 2.00. Par Pacific Holdings, Inc. has a one year low of $14.84 and a one year high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The business’s 50 day moving average price is $16.83 and its 200 day moving average price is $19.29.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s quarterly revenue was down 16.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 EPS. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 1.12 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, December 19th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and cut their price target for the company from $26.00 to $22.00 in a report on Monday, December 16th. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. dropped their target price on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.83.

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.