Fifth Third Bancorp Purchases 11,173 Shares of Par Pacific Holdings, Inc. $PARR

Fifth Third Bancorp increased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 3,800.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,467 shares of the company’s stock after buying an additional 11,173 shares during the quarter. Fifth Third Bancorp’s holdings in Par Pacific were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PARR. Aster Capital Management DIFC Ltd increased its position in Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after acquiring an additional 478 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after purchasing an additional 1,558 shares during the period. Federated Hermes Inc. grew its stake in shares of Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after purchasing an additional 866 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares during the last quarter. Finally, HB Wealth Management LLC acquired a new stake in Par Pacific in the first quarter valued at $205,000. Institutional investors own 92.15% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on PARR. UBS Group lifted their target price on Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Guggenheim raised Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Evercore upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group lifted their price objective on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.57.

Par Pacific Stock Performance

PARR stock opened at $78.68 on Tuesday. The stock has a 50-day moving average price of $61.15 and a 200-day moving average price of $54.74. Par Pacific Holdings, Inc. has a 1-year low of $26.83 and a 1-year high of $82.29. 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 firm has a market cap of $3.95 billion, a PE ratio of 8.78 and a beta of 0.82.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) 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 business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the firm earned ($0.94) earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 18.6 earnings per share for the current 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.