State of Tennessee Department of Treasury Decreases Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

State of Tennessee Department of Treasury cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,579 shares of the company’s stock after selling 7,822 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Par Pacific were worth $534,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Par Pacific by 232.5% during the 4th 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 last quarter. Sterling Capital Management LLC lifted its holdings in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after purchasing an additional 1,528 shares during the period. US Bancorp DE boosted its position in Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after buying an additional 652 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after buying an additional 700 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Par Pacific by 123.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock worth $53,000 after buying an additional 1,784 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PARR shares. Piper Sandler cut their price objective on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. StockNews.com lowered Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 target price on the stock. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $18.00 to $19.00 in a report on Thursday, March 27th. Finally, TD Cowen dropped their price objective on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $20.68.

Par Pacific Trading Up 0.3 %

Shares of NYSE:PARR opened at $14.38 on Friday. The firm has a market capitalization of $781.57 million, a price-to-earnings ratio of 2.79 and a beta of 1.64. The business’s 50 day moving average price is $13.77 and its 200-day moving average price is $15.71. 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 Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $31.20.

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 net margin of 3.74% and a return on equity of 10.06%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share 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.