Invst LLC Buys Shares of 13,036 Par Pacific Holdings, Inc. $PARR

Invst LLC purchased a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,036 shares of the company’s stock, valued at approximately $458,000.

Several other large investors have also modified their holdings of PARR. Vanguard Group Inc. grew its position in shares of Par Pacific by 30.9% in the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after purchasing an additional 1,190,088 shares during the last quarter. SG Americas Securities LLC increased its position in Par Pacific by 7,787.1% during the fourth quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock worth $19,816,000 after buying an additional 556,780 shares in the last quarter. American Century Companies Inc. increased its position in Par Pacific by 42.8% during the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after buying an additional 456,473 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Par Pacific by 22.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock worth $62,203,000 after buying an additional 317,484 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Par Pacific by 36.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock worth $33,302,000 after buying an additional 255,173 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on PARR shares. JPMorgan Chase & Co. raised their price target on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Raymond James Financial raised their price target on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, Mizuho raised Par Pacific from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $79.00 in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Insiders Place Their Bets

In related news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares in the company, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.60% of the company’s stock.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $55.62 on Friday. Par Pacific Holdings, Inc. has a twelve month low of $21.01 and a twelve month high of $70.39. The stock has a market capitalization of $2.79 billion, a P/E ratio of 6.21 and a beta of 0.83. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $61.49 and its 200 day moving average price is $49.14.

Par Pacific (NYSE:PARR) last issued 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). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the business posted ($0.94) EPS. Par Pacific’s revenue was up 4.5% compared to the same quarter last year. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 15.41 earnings per share for the current 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.