Fifth Third Bancorp Has $718,000 Position in Par Pacific Holdings, Inc. $PARR

Fifth Third Bancorp increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 3,800.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,467 shares of the company’s stock after acquiring an additional 11,173 shares during the quarter. Fifth Third Bancorp’s holdings in Par Pacific were worth $718,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its holdings in shares of Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares during the period. Aster Capital Management DIFC Ltd grew its stake in shares of 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 buying an additional 478 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after buying an additional 1,558 shares during the period. Federated Hermes Inc. increased its position in Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock valued at $74,000 after buying an additional 866 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Par Pacific by 86.3% in the 4th quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock valued at $130,000 after buying an additional 1,713 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $78.68 on Tuesday. 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’s fifty day simple moving average is $61.15 and its two-hundred day simple moving average is $54.74. Par Pacific Holdings, Inc. has a 1-year low of $26.83 and a 1-year high of $82.29. The stock 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 posted its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm 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 business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.94) EPS. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 18.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on PARR shares. TD Cowen increased their price target on Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Benchmark restated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. JPMorgan Chase & Co. upped their target price on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a report on Wednesday, June 24th. Finally, UBS Group lifted their price target on shares of Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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 O?ahu, 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.