Millennium Management LLC Has $31.74 Million Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Millennium Management LLC grew its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 43.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,936,798 shares of the company’s stock after purchasing an additional 586,003 shares during the quarter. Millennium Management LLC’s holdings in Par Pacific were worth $31,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Solas Capital Management LLC raised its holdings in Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock valued at $13,030,000 after buying an additional 641,423 shares during the last quarter. Bridgewater Associates LP bought a new position in shares of Par Pacific during the fourth quarter valued at $9,293,000. Barclays PLC lifted its holdings in shares of Par Pacific by 53.0% during the fourth quarter. Barclays PLC now owns 718,688 shares of the company’s stock worth $11,779,000 after purchasing an additional 249,048 shares during the period. CenterBook Partners LP bought a new stake in shares of Par Pacific in the fourth quarter worth $2,894,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Par Pacific by 22.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company’s stock valued at $14,902,000 after purchasing an additional 167,594 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Trading Up 0.4%

Shares of PARR stock opened at $20.66 on Monday. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $28.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. The stock has a 50 day simple moving average of $14.72 and a two-hundred day simple moving average of $15.79. The company has a market cap of $1.07 billion, a P/E ratio of 4.00 and a beta of 1.50.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the business earned $0.69 EPS. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PARR. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $18.00 to $19.00 in a report on Thursday, March 27th. Mizuho lifted their price objective on Par Pacific from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. TD Cowen decreased their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. UBS Group lowered their price target on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler upped their price objective on shares of Par Pacific from $21.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One equities 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 company. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and an average target price of $21.25.

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.