LSV Asset Management Grows Stake in Par Pacific Holdings, Inc. $PARR

LSV Asset Management raised its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 60.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,091 shares of the company’s stock after acquiring an additional 62,391 shares during the quarter. LSV Asset Management owned approximately 0.33% of Par Pacific worth $5,801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sierra Summit Advisors LLC purchased a new position in Par Pacific in the fourth quarter valued at about $540,000. VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in Par Pacific by 280.7% in the fourth quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 53,300 shares of the company’s stock valued at $1,873,000 after acquiring an additional 39,300 shares during the last quarter. Bailard Inc. boosted its stake in Par Pacific by 24.5% in the fourth quarter. Bailard Inc. now owns 17,300 shares of the company’s stock valued at $608,000 after acquiring an additional 3,400 shares during the last quarter. Trek Financial LLC purchased a new position in Par Pacific in the fourth quarter valued at about $441,000. Finally, Swiss Life Asset Management Ltd bought a new stake in shares of Par Pacific in the fourth quarter valued at approximately $208,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

NYSE PARR opened at $56.56 on Wednesday. The company’s 50 day moving average is $61.68 and its 200-day moving average is $48.38. Par Pacific Holdings, Inc. has a 12-month low of $20.74 and a 12-month high of $70.39. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.84 billion, a P/E ratio of 6.31 and a beta of 0.91.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted ($0.94) EPS. Sell-side analysts predict that Par Pacific Holdings, Inc. will post 13.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $53.00 to $77.00 in a research report on Friday, April 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research report on Friday, March 27th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, Raymond James Financial boosted their price target on shares of Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insiders Place Their Bets

In related news, CEO William Monteleone sold 108,948 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.

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.