Evermore Global Advisors LLC acquired a new position in shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) in the 3rd quarter, Holdings Channel reports. The fund acquired 325,730 shares of the oil and gas company’s stock, valued at approximately $6,645,000. Par Pacific accounts for about 1.9% of Evermore Global Advisors LLC’s portfolio, making the stock its 15th largest position.
Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in Par Pacific during the second quarter worth $196,000. BlueMountain Capital Management LLC raised its holdings in Par Pacific by 10.9% during the second quarter. BlueMountain Capital Management LLC now owns 49,607 shares of the oil and gas company’s stock worth $862,000 after purchasing an additional 4,872 shares during the last quarter. Citadel Advisors LLC raised its holdings in Par Pacific by 135.7% during the second quarter. Citadel Advisors LLC now owns 197,970 shares of the oil and gas company’s stock worth $3,441,000 after purchasing an additional 113,970 shares during the last quarter. Globeflex Capital L P increased its position in Par Pacific by 4.5% during the second quarter. Globeflex Capital L P now owns 81,143 shares of the oil and gas company’s stock worth $1,410,000 after buying an additional 3,522 shares in the last quarter. Finally, Strs Ohio increased its position in Par Pacific by 8.9% during the second quarter. Strs Ohio now owns 46,600 shares of the oil and gas company’s stock worth $809,000 after buying an additional 3,800 shares in the last quarter. 83.57% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on PARR shares. Zacks Investment Research downgraded Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 9th. Cowen downgraded Par Pacific from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research report on Wednesday, September 12th.
Par Pacific (NYSEAMERICAN:PARR) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.15). The firm had revenue of $909.78 million during the quarter, compared to analyst estimates of $744.50 million.
About Par Pacific
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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