LSV Asset Management Purchases 62,391 Shares of Par Pacific Holdings, Inc. $PARR

LSV Asset Management increased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 60.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 165,091 shares of the company’s stock after acquiring an additional 62,391 shares during the period. LSV Asset Management’s holdings in Par Pacific were worth $5,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Federated Hermes Inc. bought a new stake in Par Pacific during the 3rd quarter worth approximately $44,000. Aster Capital Management DIFC Ltd purchased a new position in Par Pacific in the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC grew its stake in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in Par Pacific in the 3rd quarter worth approximately $136,000. Finally, Mutual of America Capital Management LLC purchased a new position in Par Pacific in the 3rd quarter worth approximately $201,000. Institutional investors own 92.15% of the company’s stock.

Insider Activity

In other news, CEO William Monteleone sold 108,948 shares of the company’s stock in a transaction on Monday, March 16th. The shares were 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 approximately $24,714,448.02. This represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

PARR has been the subject of a number of research reports. Piper Sandler boosted their price target on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. UBS Group boosted their price target on shares of Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. The Goldman Sachs Group raised shares of 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. Finally, Mizuho boosted their price target on shares of Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Par Pacific Price Performance

PARR stock opened at $56.56 on Wednesday. Par Pacific Holdings, Inc. has a one year low of $20.74 and a one year high of $70.39. The stock has a market cap of $2.84 billion, a PE ratio of 6.31 and a beta of 0.91. The firm has a 50 day simple moving average of $61.68 and a two-hundred day simple moving average of $48.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60.

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 analysts’ expectations of $1.78 billion. During the same period last year, the company posted ($0.94) EPS. Par Pacific’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts predict that Par Pacific Holdings, Inc. will post 13.72 EPS for the current fiscal 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 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.