Thomist Capital Management LP Sells 292,780 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Thomist Capital Management LP cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 92.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,468 shares of the company’s stock after selling 292,780 shares during the period. Thomist Capital Management LP’s holdings in Par Pacific were worth $378,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Solas Capital Management LLC increased its holdings in Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock valued at $13,030,000 after buying an additional 641,423 shares during the period. Millennium Management LLC increased its holdings in Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after buying an additional 586,003 shares during the period. Bridgewater Associates LP purchased a new stake in shares of Par Pacific during the fourth quarter valued at about $9,293,000. Barclays PLC lifted its position in shares of Par Pacific by 53.0% during the fourth quarter. Barclays PLC now owns 718,688 shares of the company’s stock valued at $11,779,000 after buying an additional 249,048 shares during the last quarter. Finally, CenterBook Partners LP purchased a new stake in shares of Par Pacific during the fourth quarter valued at about $2,894,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

PARR opened at $20.66 on Friday. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $28.89. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The company has a market cap of $1.07 billion, a P/E ratio of 4.00 and a beta of 1.50. The firm’s 50-day moving average price is $14.72 and its 200-day moving average price is $15.78.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter last year, the company earned $0.69 EPS. The business’s revenue was down 11.9% compared to the same quarter last year. As a group, equities analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on PARR shares. Piper Sandler increased their price target on shares of Par Pacific from $21.00 to $26.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $19.00 in a research report on Thursday, March 27th. Mizuho increased their price target on shares of Par Pacific from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. Finally, TD Cowen decreased their price target on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.25.

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.