SummerHaven Investment Management LLC Has $903,000 Stake in Par Pacific Holdings, Inc. $PARR

SummerHaven Investment Management LLC grew its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,054 shares of the company’s stock after purchasing an additional 1,036 shares during the period. SummerHaven Investment Management LLC owned about 0.07% of Par Pacific worth $903,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Par Pacific in the 1st quarter valued at about $194,000. Allspring Global Investments Holdings LLC increased its holdings in Par Pacific by 54.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company’s stock worth $265,000 after buying an additional 6,522 shares during the last quarter. GAMMA Investing LLC increased its holdings in Par Pacific by 352.7% in the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after buying an additional 5,887 shares during the last quarter. First Citizens Bank & Trust Co. acquired a new position in Par Pacific in the first quarter worth approximately $219,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Par Pacific by 32.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after buying an additional 296,536 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PARR. Cowen restated a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Mizuho upped their target price on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, September 15th. Raymond James Financial upped their target price on Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. TD Cowen decreased their target price on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, Piper Sandler upped their target price on Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Par Pacific currently has an average rating of “Moderate Buy” and a consensus target price of $33.86.

Insiders Place Their Bets

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the sale, the chief accounting officer owned 17,491 shares in the company, valued at approximately $614,109.01. This trade represents a 23.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the transaction, the insider directly owned 24,679 shares of the company’s stock, valued at approximately $852,659.45. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,954 shares of company stock valued at $863,048 in the last 90 days. 4.40% of the stock is currently owned by corporate insiders.

Par Pacific Trading Down 1.6%

Shares of Par Pacific stock opened at $37.22 on Monday. The company’s fifty day simple moving average is $32.49 and its 200-day simple moving average is $24.61. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -132.91 and a beta of 1.82. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $38.60.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data 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. The business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. Par Pacific’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the company posted $0.49 earnings per share. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current 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.