ExodusPoint Capital Management LP Purchases New Position in Par Pacific Holdings, Inc. (NYSE:PARR)

ExodusPoint Capital Management LP acquired a new position in Par Pacific Holdings, Inc. (NYSE:PARR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 107,564 shares of the company’s stock, valued at approximately $1,763,000. ExodusPoint Capital Management LP owned approximately 0.19% of Par Pacific at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Rangeley Capital LLC acquired a new stake in Par Pacific during the fourth quarter valued at $2,116,000. Trexquant Investment LP increased its stake in shares of Par Pacific by 56.8% in the 4th quarter. Trexquant Investment LP now owns 198,882 shares of the company’s stock valued at $3,260,000 after purchasing an additional 72,067 shares in the last quarter. Norges Bank purchased a new position in shares of Par Pacific in the 4th quarter valued at about $2,573,000. JPMorgan Chase & Co. raised its holdings in Par Pacific by 11.7% in the 4th quarter. JPMorgan Chase & Co. now owns 163,247 shares of the company’s stock worth $2,676,000 after purchasing an additional 17,041 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in Par Pacific during the fourth quarter worth approximately $433,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Trading Down 5.6 %

PARR opened at $13.03 on Wednesday. The firm has a market capitalization of $713.09 million, a price-to-earnings ratio of 2.52 and a beta of 1.64. The company’s 50 day simple moving average is $14.76 and its two-hundred day simple moving average is $16.26. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $38.31. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PARR shares. TD Cowen cut their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. JPMorgan Chase & Co. decreased their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $19.00 in a research note on Thursday, March 27th. Finally, StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.71.

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.