Van ECK Associates Corp Sells 2,041 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Van ECK Associates Corp reduced its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 14.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,995 shares of the company’s stock after selling 2,041 shares during the period. Van ECK Associates Corp’s holdings in Par Pacific were worth $198,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted its holdings in Par Pacific by 215.1% during 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. bought a new position in Par Pacific during the 2nd quarter valued at about $43,000. Quarry LP lifted its holdings in Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock valued at $60,000 after purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC lifted 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 valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Innealta Capital LLC bought a new position in Par Pacific during the 2nd quarter valued at about $104,000. 92.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PARR has been the subject of several analyst reports. Mizuho cut their price target on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $36.00 to $30.00 in a research note on Wednesday, October 2nd. UBS Group dropped their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research note on Monday, August 19th. The Goldman Sachs Group dropped their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Up 3.3 %

Shares of NYSE:PARR opened at $17.31 on Thursday. Par Pacific Holdings, Inc. has a one year low of $14.84 and a one year high of $40.69. The company has a 50 day moving average of $17.80 and a 200-day moving average of $22.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market cap of $968.49 million, a price-to-earnings ratio of 3.28 and a beta of 1.99.

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

Par Pacific Company 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.