VIRGINIA RETIREMENT SYSTEMS ET Al Buys 39,300 Shares of Par Pacific Holdings, Inc. $PARR

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 280.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,300 shares of the company’s stock after purchasing an additional 39,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Par Pacific were worth $1,873,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bailard Inc. raised its stake in shares of Par Pacific by 24.5% during the 4th quarter. Bailard Inc. now owns 17,300 shares of the company’s stock valued at $608,000 after purchasing an additional 3,400 shares during the period. Trek Financial LLC purchased a new stake in shares of Par Pacific in the 4th quarter valued at about $441,000. Swiss Life Asset Management Ltd purchased a new stake in shares of Par Pacific in the 4th quarter valued at about $208,000. Ethic Inc. raised its holdings in shares of Par Pacific by 6.8% in the 4th quarter. Ethic Inc. now owns 15,749 shares of the company’s stock valued at $553,000 after acquiring an additional 997 shares in the last quarter. Finally, Navellier & Associates Inc. purchased a new stake in shares of Par Pacific in the 4th quarter valued at about $251,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Down 3.1%

Par Pacific stock opened at $58.33 on Friday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 6.51 and a beta of 0.91. The stock has a fifty day simple moving average of $60.45 and a two-hundred day simple moving average of $47.40. Par Pacific Holdings, Inc. has a 12 month low of $19.28 and a 12 month high of $70.39. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The business had revenue of $1.82 billion during 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 firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.94) EPS. Equities analysts predict that Par Pacific Holdings, Inc. will post 13.72 EPS for the current fiscal year.

Insider Activity at Par Pacific

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 completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on PARR shares. Raymond James Financial raised their price target on Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. JPMorgan Chase & Co. increased 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. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a report on Friday, March 27th. Finally, Wall Street Zen cut Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

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.