Paragon Associates & Paragon Associates II Joint Venture trimmed its stake in shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 45.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,000 shares of the oil and gas company’s stock after selling 90,000 shares during the period. Par Pacific comprises about 1.1% of Paragon Associates & Paragon Associates II Joint Venture’s holdings, making the stock its 10th biggest position. Paragon Associates & Paragon Associates II Joint Venture owned about 0.20% of Par Pacific worth $989,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in the company. Park West Asset Management LLC grew its position in shares of Par Pacific by 81.6% in the first quarter. Park West Asset Management LLC now owns 2,041,705 shares of the oil and gas company’s stock valued at $14,496,000 after purchasing an additional 917,162 shares during the last quarter. DC Investments Management LLC increased its position in Par Pacific by 211.9% during the second quarter. DC Investments Management LLC now owns 699,159 shares of the oil and gas company’s stock worth $6,285,000 after buying an additional 475,000 shares in the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Par Pacific by 11.6% in the first quarter. Parametric Portfolio Associates LLC now owns 2,737,001 shares of the oil and gas company’s stock worth $19,433,000 after acquiring an additional 284,294 shares during the last quarter. State Street Corp lifted its position in shares of Par Pacific by 16.8% in the first quarter. State Street Corp now owns 1,632,800 shares of the oil and gas company’s stock valued at $11,593,000 after acquiring an additional 234,949 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Par Pacific by 102.7% during the first quarter. JPMorgan Chase & Co. now owns 413,769 shares of the oil and gas company’s stock valued at $2,937,000 after acquiring an additional 209,592 shares during the last quarter. 83.57% of the stock is currently owned by institutional investors and hedge funds.
Shares of PARR traded up $0.04 during mid-day trading on Friday, hitting $8.72. The company had a trading volume of 496,100 shares, compared to its average volume of 534,078. Par Pacific Holdings, Inc. has a 1-year low of $5.72 and a 1-year high of $25.69.
Par Pacific (NYSEAMERICAN:PARR) last issued its quarterly earnings results on Sunday, August 9th. The oil and gas company reported ($1.70) EPS for the quarter, missing analysts’ consensus estimates of ($1.59) by ($0.11).
PARR has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, August 7th. Credit Suisse Group reissued a “hold” rating and issued a $11.00 price objective on shares of Par Pacific in a research report on Friday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $19.63.
Par Pacific Profile
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. The company operates in three segments: Refining, Retail, and Logistics. The Refining segment operates four refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.
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