VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 14,000 Par Pacific Holdings, Inc. $PARR

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,000 shares of the company’s stock, valued at approximately $496,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Diversified Trust Co purchased a new position in Par Pacific in the third quarter valued at about $410,000. USA Financial Formulas acquired a new position in shares of Par Pacific in the 3rd quarter valued at approximately $82,000. Voya Investment Management LLC boosted its stake in shares of Par Pacific by 15.3% during the 3rd quarter. Voya Investment Management LLC now owns 27,553 shares of the company’s stock valued at $976,000 after buying an additional 3,651 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Par Pacific by 4.9% during the 3rd quarter. GAMMA Investing LLC now owns 15,405 shares of the company’s stock valued at $546,000 after buying an additional 713 shares during the last quarter. Finally, Osaic Holdings Inc. grew its position in shares of Par Pacific by 19.7% during the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock worth $154,000 after buying an additional 961 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Trading Up 4.2%

NYSE PARR opened at $37.32 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $48.40. The company has a 50-day simple moving average of $40.91 and a 200-day simple moving average of $35.68. The firm has a market capitalization of $1.88 billion, a PE ratio of 7.86 and a beta of 1.24.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted ($0.10) earnings per share. Par Pacific’s revenue was down 6.1% on a year-over-year basis. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

PARR has been the topic of several recent analyst reports. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. The Goldman Sachs Group upped their target price on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Finally, Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.14.

Insider Activity at Par Pacific

In other Par Pacific news, EVP Richard Creamer sold 15,848 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the sale, the executive vice president directly owned 54,654 shares in the company, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the transaction, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. This trade represents a 19.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.40% of the company’s stock.

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 Oʻahu, 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.