Yaupon Capital Management LP Raises Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Yaupon Capital Management LP boosted its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 17.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 604,828 shares of the company’s stock after buying an additional 87,881 shares during the period. Yaupon Capital Management LP owned 1.08% of Par Pacific worth $10,645,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Zacks Investment Management raised its position in shares of Par Pacific by 14.1% in the third quarter. Zacks Investment Management now owns 56,191 shares of the company’s stock valued at $989,000 after buying an additional 6,947 shares during the last quarter. iSAM Funds UK Ltd purchased a new stake in Par Pacific during the 3rd quarter valued at about $212,000. Weiss Asset Management LP purchased a new stake in Par Pacific during the 3rd quarter valued at about $2,636,000. State Street Corp lifted its stake in Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after purchasing an additional 328,325 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Par Pacific by 21.7% during the 3rd quarter. Janus Henderson Group PLC now owns 44,342 shares of the company’s stock worth $781,000 after purchasing an additional 7,903 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Stock Performance

Shares of PARR opened at $16.07 on Friday. Par Pacific Holdings, Inc. has a 1 year low of $14.84 and a 1 year high of $40.69. The stock has a market capitalization of $899.12 million, a PE ratio of 3.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock has a 50-day simple moving average of $17.17 and a 200-day simple moving average of $21.26.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Par Pacific’s revenue for the quarter was down 16.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.15 EPS. On average, analysts predict that Par Pacific Holdings, Inc. will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PARR. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. TD Cowen decreased their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. UBS Group reduced their price target on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. Finally, The Goldman Sachs Group cut their target price on Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.00.

About Par Pacific

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.