Schroder Investment Management Group Buys New Position in Par Pacific Holdings, Inc. $PARR

Schroder Investment Management Group purchased a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,113 shares of the company’s stock, valued at approximately $1,303,000.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in shares of Par Pacific in the second quarter valued at approximately $4,165,000. Quadrature Capital Ltd acquired a new position in shares of Par Pacific in the second quarter worth $531,000. Capital Fund Management S.A. acquired a new position in shares of Par Pacific in the second quarter worth $2,986,000. Prudential Financial Inc. increased its position in shares of Par Pacific by 83.6% during the second quarter. Prudential Financial Inc. now owns 100,196 shares of the company’s stock worth $2,658,000 after acquiring an additional 45,617 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of Par Pacific in the second quarter valued at $766,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analysts Set New Price Targets

PARR has been the subject of several analyst reports. Tudor Pickering raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Piper Sandler upped their target price on shares of Par Pacific from $44.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 target price (up previously from $38.00) on shares of Par Pacific in a report on Friday, October 17th. Mizuho boosted their price target on shares of Par Pacific from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Par Pacific presently has a consensus rating of “Moderate Buy” and an average price target of $41.57.

Insider Activity at Par Pacific

In related news, EVP Richard Creamer sold 15,848 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the sale, the executive vice president directly owned 54,654 shares of the company’s stock, valued at $2,252,837.88. This represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Monteleone sold 99,284 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the transaction, the chief executive officer owned 423,022 shares in the company, valued at $18,253,399.30. This represents a 19.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 117,132 shares of company stock valued at $5,004,099 over the last ninety days. Insiders own 4.40% of the company’s stock.

Par Pacific Stock Performance

Shares of PARR opened at $43.71 on Friday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.20 and a beta of 1.25. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $48.40. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70. The stock has a 50 day moving average price of $40.12 and a 200 day moving average price of $33.39.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping the consensus estimate of $1.98 by $3.97. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the firm earned ($0.10) EPS. The company’s revenue was down 6.1% compared to the same quarter last year. Research 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.