Rubric Capital Management LP decreased its stake in shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 49.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 320,336 shares of the oil and gas company’s stock after selling 319,664 shares during the period. Rubric Capital Management LP owned 0.70% of Par Pacific worth $6,663,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of PARR. GSA Capital Partners LLP boosted its stake in Par Pacific by 31.1% during the 3rd quarter. GSA Capital Partners LLP now owns 74,743 shares of the oil and gas company’s stock valued at $1,555,000 after purchasing an additional 17,736 shares during the period. Sterling Capital Management LLC bought a new stake in shares of Par Pacific in the 3rd quarter worth approximately $910,000. Cubist Systematic Strategies LLC bought a new stake in shares of Par Pacific in the 3rd quarter worth approximately $254,000. Highbridge Capital Management LLC bought a new stake in shares of Par Pacific in the 3rd quarter worth approximately $461,000. Finally, Jane Street Group LLC bought a new stake in shares of Par Pacific in the 3rd quarter worth approximately $272,000. 83.57% of the stock is currently owned by institutional investors and hedge funds.
In other news, major shareholder Whitebox Advisors Llc sold 38,405 shares of Par Pacific stock in a transaction on Friday, October 20th. The stock was sold at an average price of $20.53, for a total value of $788,454.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 2,040,706 shares of company stock valued at $42,256,220 over the last three months. Insiders own 2.80% of the company’s stock.
Par Pacific (NYSEAMERICAN:PARR) last released its quarterly earnings results on Monday, November 6th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.07. The firm had revenue of $610.51 million during the quarter, compared to analysts’ expectations of $655.80 million. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%. equities research analysts forecast that Par Pacific Holdings, Inc. will post 1.33 earnings per share for the current year.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research cut Par Pacific from a “buy” rating to a “strong sell” rating in a report on Tuesday, November 14th. BidaskClub cut Par Pacific from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 7th. Mizuho reissued a “buy” rating and issued a $23.00 target price on shares of Par Pacific in a report on Friday, October 27th. Cowen reissued a “buy” rating and issued a $20.00 target price on shares of Par Pacific in a report on Tuesday, October 17th. Finally, ValuEngine raised Par Pacific from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.50.
Par Pacific Company Profile
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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