Park West Asset Management LLC grew its stake in shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 53.0% during the first quarter, HoldingsChannel reports. The firm owned 725,000 shares of the oil and gas company’s stock after purchasing an additional 251,097 shares during the period. Park West Asset Management LLC’s holdings in Par Pacific were worth $12,448,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in PARR. O Shaughnessy Asset Management LLC raised its holdings in Par Pacific by 316.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 10,209 shares of the oil and gas company’s stock worth $175,000 after purchasing an additional 7,755 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in Par Pacific during the fourth quarter worth approximately $195,000. Gotham Asset Management LLC acquired a new stake in Par Pacific during the fourth quarter worth approximately $218,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Par Pacific during the fourth quarter worth approximately $239,000. Finally, Crossmark Global Holdings Inc. acquired a new stake in Par Pacific during the fourth quarter worth approximately $265,000. 83.57% of the stock is currently owned by institutional investors.
Shares of Par Pacific opened at $18.04 on Thursday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.35. Par Pacific Holdings, Inc. has a 12-month low of $15.90 and a 12-month high of $21.94.
Separately, Zacks Investment Research raised shares of Par Pacific from a “strong sell” rating to a “hold” rating in a report on Saturday, February 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $21.00.
In other news, VP James Matthew Vaughn sold 26,821 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $17.60, for a total transaction of $472,049.60. Following the transaction, the vice president now directly owns 48,693 shares in the company, valued at $856,996.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.80% of the company’s stock.
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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