Sterling Capital Management LLC Raises Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Sterling Capital Management LLC increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 821.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,714 shares of the company’s stock after buying an additional 1,528 shares during the period. Sterling Capital Management LLC’s holdings in Par Pacific were worth $28,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE grew its stake in shares of Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after acquiring an additional 652 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the last quarter. Inspire Investing LLC boosted its position in Par Pacific by 4.6% during the fourth quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock worth $397,000 after purchasing an additional 1,066 shares during the period. Legal & General Group Plc increased its stake in shares of Par Pacific by 0.8% in the fourth quarter. Legal & General Group Plc now owns 150,322 shares of the company’s stock worth $2,464,000 after purchasing an additional 1,156 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after purchasing an additional 1,167 shares during the period. Institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of recent research reports. StockNews.com lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Piper Sandler decreased their price objective on Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. Raymond James initiated coverage on Par Pacific in a research note on Friday, January 24th. They issued an “outperform” rating and a $25.00 target price for the company. TD Cowen reduced their target price on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, JPMorgan Chase & Co. lowered their price target 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. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.68.

Par Pacific Price Performance

PARR stock opened at $14.37 on Friday. The firm has a 50 day simple moving average of $13.90 and a two-hundred day simple moving average of $15.84. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market cap of $781.02 million, a PE ratio of 2.78 and a beta of 1.64. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $32.74.

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

Par Pacific Company Profile

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.