Entropy Technologies LP Buys New Shares in Par Pacific Holdings, Inc. $PARR

Entropy Technologies LP bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the first quarter, HoldingsChannel reports. The firm bought 9,789 shares of the company’s stock, valued at approximately $613,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in Par Pacific by 23.9% in the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after acquiring an additional 4,525 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Par Pacific by 118.2% during the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares during the period. Finally, Jane Street Group LLC raised its stake in shares of Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Trading Up 5.0%

Shares of PARR opened at $83.04 on Thursday. 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 stock has a market cap of $4.16 billion, a PE ratio of 9.27 and a beta of 0.82. Par Pacific Holdings, Inc. has a 1 year low of $26.83 and a 1 year high of $83.78. The stock has a 50 day simple moving average of $61.95 and a 200-day simple moving average of $55.36.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company 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) EPS. Par Pacific’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Par Pacific Holdings, Inc. will post 18.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PARR has been the subject of several research reports. Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Mizuho boosted their price target on shares of Par Pacific from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday, June 24th. The Goldman Sachs Group raised their price objective on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $81.57.

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.