Louisiana State Employees Retirement System Sells 800 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Louisiana State Employees Retirement System trimmed its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,800 shares of the company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Par Pacific were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PARR. Quadrant Capital Group LLC raised its stake in shares of Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares in the last quarter. EntryPoint Capital LLC bought a new position in Par Pacific during the first quarter worth about $157,000. Navellier & Associates Inc. acquired a new stake in Par Pacific during the fourth quarter valued at approximately $221,000. PNC Financial Services Group Inc. grew its stake in shares of Par Pacific by 17.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock valued at $252,000 after purchasing an additional 1,024 shares during the period. Finally, Range Financial Group LLC grew its stake in shares of Par Pacific by 9.8% in the 1st quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after purchasing an additional 608 shares during the period. 92.15% of the stock is owned by institutional investors.

Par Pacific Stock Performance

Par Pacific stock opened at $22.43 on Friday. The stock has a 50-day simple moving average of $23.97 and a 200 day simple moving average of $29.64. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 2.81 and a beta of 2.00. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 12-month low of $21.31 and a 12-month high of $40.69.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.73 earnings per share. The company’s revenue was up 13.1% on a year-over-year basis. On average, research analysts anticipate that Par Pacific Holdings, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on PARR. JPMorgan Chase & Co. cut their target price on Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. UBS Group reduced their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. The Goldman Sachs Group lowered their target price on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Piper Sandler cut their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Finally, TD Cowen decreased their price objective 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. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.17.

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.