Par Pacific Holdings, Inc. $PARR Shares Purchased by State of Wyoming

State of Wyoming boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 213.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 23,796 shares of the company’s stock after purchasing an additional 16,202 shares during the period. State of Wyoming’s holdings in Par Pacific were worth $843,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PARR. Principal Financial Group Inc. increased its position in shares of Par Pacific by 38.5% during the third quarter. Principal Financial Group Inc. now owns 354,439 shares of the company’s stock worth $12,554,000 after acquiring an additional 98,524 shares during the period. AlphaQuest LLC boosted its holdings in shares of Par Pacific by 58.5% in the 3rd quarter. AlphaQuest LLC now owns 17,916 shares of the company’s stock valued at $635,000 after buying an additional 6,610 shares in the last quarter. New York State Common Retirement Fund raised its stake in Par Pacific by 9.8% during the 3rd quarter. New York State Common Retirement Fund now owns 79,422 shares of the company’s stock worth $2,813,000 after acquiring an additional 7,102 shares in the last quarter. Federated Hermes Inc. purchased a new stake in Par Pacific in the third quarter valued at $44,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Par Pacific in the 3rd quarter valued at about $214,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Par Pacific

In other news, EVP Richard Creamer sold 15,848 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the transaction, the executive vice president owned 54,654 shares of the company’s stock, valued at $2,252,837.88. The trade was a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Monteleone sold 99,284 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the transaction, the chief executive officer directly owned 423,022 shares in the company, valued at $18,253,399.30. The trade was a 19.01% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on PARR. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. UBS Group raised their price target on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Mizuho upped their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Piper Sandler set a $57.00 target price on Par Pacific in a research note on Monday, January 12th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 price target (up from $38.00) on shares of Par Pacific in a report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Par Pacific Trading Down 0.2%

Shares of PARR opened at $37.68 on Tuesday. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $48.40. The firm has a market capitalization of $1.89 billion, a P/E ratio of 7.93 and a beta of 1.24. The firm’s 50-day moving average is $38.76 and its two-hundred day moving average is $36.58. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the firm earned ($0.10) earnings per share. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. On average, research analysts predict 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 (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.