Rafferty Asset Management LLC Purchases 12,871 Shares of Par Pacific Holdings, Inc. $PARR

Rafferty Asset Management LLC raised its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 19.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 79,448 shares of the company’s stock after purchasing an additional 12,871 shares during the quarter. Rafferty Asset Management LLC’s holdings in Par Pacific were worth $2,814,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC lifted its stake in shares of Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after purchasing an additional 259 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Par Pacific by 1.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock worth $596,000 after acquiring an additional 266 shares during the period. Smartleaf Asset Management LLC raised its position in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock worth $94,000 after acquiring an additional 293 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Par Pacific by 1.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 28,078 shares of the company’s stock worth $995,000 after acquiring an additional 471 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Par Pacific by 4.9% during the 3rd quarter. GAMMA Investing LLC now owns 15,405 shares of the company’s stock valued at $546,000 after acquiring an additional 713 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PARR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. UBS Group raised their price objective on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Mizuho lifted their price objective on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Finally, Wall Street Zen downgraded shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Par Pacific has an average rating of “Hold” and a consensus price target of $47.33.

Par Pacific Stock Up 9.1%

Shares of PARR opened at $49.94 on Thursday. The business’s 50 day moving average is $39.09 and its 200 day moving average is $38.43. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $50.22. The company has a market capitalization of $2.45 billion, a PE ratio of 6.85 and a beta of 1.17.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.04). The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.79) earnings per share. Research analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Par Pacific 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.