Invst LLC Makes New $458,000 Investment in Par Pacific Holdings, Inc. $PARR

Invst LLC acquired a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 13,036 shares of the company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock worth $178,680,000 after purchasing an additional 1,190,088 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company’s stock worth $62,601,000 after purchasing an additional 109,705 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of 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 purchasing an additional 317,484 shares in the last quarter. American Century Companies Inc. increased its position in shares of 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 acquiring an additional 456,473 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Par Pacific by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company’s stock worth $42,954,000 after acquiring an additional 21,254 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group upgraded Par Pacific from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $53.00 to $77.00 in a research note on Friday, April 10th. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price target on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Mizuho upgraded Par Pacific from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $58.00 to $79.00 in a research note on Wednesday, May 27th. Finally, TD Cowen boosted their price target on Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Insider Activity at Par Pacific

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

Par Pacific Stock Up 0.1%

Shares of Par Pacific stock opened at $55.62 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The firm has a market cap of $2.79 billion, a P/E ratio of 6.21 and a beta of 0.83. Par Pacific Holdings, Inc. has a fifty-two week low of $21.01 and a fifty-two week high of $70.39. The business has a 50-day moving average price of $61.49 and a 200 day moving average price of $49.14.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share 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 net margin of 6.02% and a return on equity of 34.38%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.94) earnings per share. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 15.41 earnings per share for the current fiscal 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 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.