First Pacific Advisors LP Increases Holdings in Par Pacific Holdings, Inc. $PARR

First Pacific Advisors LP increased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 72,632 shares of the company’s stock after purchasing an additional 820 shares during the period. First Pacific Advisors LP owned 0.14% of Par Pacific worth $1,927,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Ethic Inc. boosted its position in Par Pacific by 1.9% during the 2nd quarter. Ethic Inc. now owns 21,801 shares of the company’s stock worth $580,000 after purchasing an additional 396 shares during the period. Public Employees Retirement System of Ohio boosted its position in Par Pacific by 17.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company’s stock worth $76,000 after purchasing an additional 428 shares during the period. Farther Finance Advisors LLC boosted its position in Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock worth $31,000 after purchasing an additional 753 shares during the period. Parallel Advisors LLC boosted its position in Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock valued at $35,000 after buying an additional 927 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in Par Pacific by 2.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company’s stock valued at $621,000 after buying an additional 960 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of analyst reports. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price objective (up from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Mizuho upped their price objective on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 13th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Par Pacific in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

Insider Buying and Selling at Par Pacific

In related news, CAO Ivan Daniel Guerra sold 5,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total transaction of $193,105.00. Following the sale, the chief accounting officer owned 17,491 shares in the company, valued at $614,109.01. This represents a 23.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy Clossey sold 2,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $33.37, for a total transaction of $66,740.00. Following the sale, the director owned 84,000 shares in the company, valued at approximately $2,803,080. This trade represents a 2.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 25,954 shares of company stock valued at $863,048. Corporate insiders own 4.40% of the company’s stock.

Par Pacific Stock Performance

Shares of PARR stock opened at $39.64 on Wednesday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $41.63. The company’s 50-day simple moving average is $35.20 and its 200-day simple moving average is $28.02. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of -141.56 and a beta of 1.74.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping the consensus estimate of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The business had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the company posted $0.49 earnings per share. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. Equities analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Par Pacific Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.