Aventail Capital Group LP Sells 479,272 Shares of Par Pacific Holdings, Inc. $PARR

Aventail Capital Group LP lowered its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 82.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 98,903 shares of the company’s stock after selling 479,272 shares during the quarter. Aventail Capital Group LP’s holdings in Par Pacific were worth $3,475,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of Par Pacific in the third quarter worth $48,000. Smartleaf Asset Management LLC grew its position in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after acquiring an additional 1,048 shares in the last quarter. Federated Hermes Inc. grew its position in Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after acquiring an additional 866 shares in the last quarter. Royal Bank of Canada grew its position in Par Pacific by 86.3% in the fourth quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock worth $130,000 after acquiring an additional 1,713 shares in the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in Par Pacific in the third quarter worth $136,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

NYSE PARR opened at $50.84 on Thursday. The company has a 50-day simple moving average of $60.01 and a two-hundred day simple moving average of $49.74. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 12-month low of $25.81 and a 12-month high of $70.39. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 5.67 and a beta of 0.83.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the company earned ($0.94) earnings per share. The business’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 15.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Evercore upgraded shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. Piper Sandler upped their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. UBS Group upped their target price on shares of Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Finally, Mizuho upgraded shares of Par Pacific from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $58.00 to $79.00 in a research report on Wednesday, May 27th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.00.

Par Pacific Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of O?ahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.