VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Shares in Par Pacific Holdings, Inc. $PARR

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 53,800 shares of the company’s stock, valued at approximately $3,017,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.11% of Par Pacific as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PARR. California State Teachers Retirement System raised its stake in shares of Par Pacific by 5,095.4% in the second quarter. California State Teachers Retirement System now owns 3,120,123 shares of the company’s stock worth $174,976,000 after acquiring an additional 3,060,068 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in shares of Par Pacific during the first quarter valued at approximately $28,839,000. Bank of New York Mellon Corp bought a new stake in shares of Par Pacific during the second quarter valued at approximately $19,353,000. Wells Fargo & Company MN increased its holdings in shares of Par Pacific by 810.8% in the fourth quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock valued at $12,645,000 after purchasing an additional 320,326 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of Par Pacific by 22.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after purchasing an additional 317,484 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. This trade represents a 10.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on PARR. Raymond James Financial increased their price objective on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Benchmark restated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Evercore raised Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Mizuho raised their price target on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. Finally, The Goldman Sachs Group lifted their price objective on Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $81.57.

Par Pacific Trading Up 0.6%

NYSE PARR opened at $83.60 on Friday. Par Pacific Holdings, Inc. has a 12 month low of $32.24 and a 12 month high of $87.03. The stock has a 50-day simple moving average of $76.38 and a 200 day simple moving average of $63.97. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4.19 billion, a PE ratio of 4.88 and a beta of 0.77.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The company’s revenue was up 56.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.54 earnings per share. Research analysts forecast that Par Pacific Holdings, Inc. will post 21.33 EPS for the current 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.