Petrus Trust Company LTA Takes $792,000 Position in Par Pacific Holdings, Inc. $PARR

Petrus Trust Company LTA acquired a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 55,521 shares of the company’s stock, valued at approximately $792,000.

A number of other large investors have also recently made changes to their positions in PARR. Nuveen LLC purchased a new stake in shares of Par Pacific during the first quarter valued at $12,750,000. Millennium Management LLC grew its holdings in shares of Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after buying an additional 586,003 shares during the last quarter. Walleye Capital LLC grew its holdings in shares of Par Pacific by 365.4% during the first quarter. Walleye Capital LLC now owns 424,549 shares of the company’s stock valued at $6,054,000 after buying an additional 333,319 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Par Pacific by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock valued at $17,194,000 after buying an additional 296,536 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Par Pacific during the first quarter valued at $3,289,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Shawn David Flores sold 8,062 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $34.50, for a total transaction of $278,139.00. Following the sale, the insider directly owned 39,089 shares of the company’s stock, valued at $1,348,570.50. This represents a 17.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the sale, the senior vice president directly owned 41,223 shares in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,954 shares of company stock valued at $796,308. Insiders own 4.40% of the company’s stock.

Par Pacific Trading Down 1.0%

PARR stock opened at $33.83 on Friday. The company’s 50-day simple moving average is $31.47 and its 200-day simple moving average is $22.26. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.94. The firm has a market cap of $1.72 billion, a P/E ratio of -120.81 and a beta of 1.82.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The business had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PARR has been the topic of several recent research reports. Raymond James Financial set a $38.00 price target on shares of Par Pacific and gave the company an “outperform” rating in a report on Tuesday, July 15th. The Goldman Sachs Group lowered shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Wednesday, May 28th. TD Cowen lowered their price target on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Mizuho set a $34.00 price target on shares of Par Pacific and gave the company a “neutral” rating in a report on Friday, July 11th. Finally, Cowen reaffirmed a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Par Pacific presently has an average rating of “Moderate Buy” and an average target price of $28.96.

About Par Pacific

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.