Massachusetts Financial Services Co. MA Sells 10,821 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Massachusetts Financial Services Co. MA cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 12.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,673 shares of the company’s stock after selling 10,821 shares during the period. Massachusetts Financial Services Co. MA owned 0.14% of Par Pacific worth $1,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC boosted its stake in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after purchasing an additional 796 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Par Pacific in the second quarter valued at $43,000. Quarry LP boosted its position in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after acquiring an additional 2,027 shares during the last quarter. nVerses Capital LLC grew its holdings in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the period. Finally, Innealta Capital LLC bought a new position in shares of Par Pacific in the 2nd quarter worth about $104,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Stock Performance

PARR opened at $17.40 on Thursday. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a 1-year low of $14.84 and a 1-year high of $40.69. The company has a market cap of $973.56 million, a price-to-earnings ratio of 3.37 and a beta of 1.99. The company’s fifty day moving average price is $17.38 and its two-hundred day moving average price is $21.78.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the company posted $3.15 EPS. The company’s revenue for the quarter was down 16.9% on a year-over-year basis. On average, analysts expect that Par Pacific Holdings, Inc. will post 0.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $37.00 to $23.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Finally, TD Cowen decreased their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $28.00.

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.