Towle & Co. Decreases Stock Holdings in Par Pacific Holdings, Inc. $PARR

Towle & Co. decreased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,683 shares of the company’s stock after selling 111,280 shares during the period. Par Pacific comprises approximately 4.9% of Towle & Co.’s holdings, making the stock its largest position. Towle & Co. owned about 1.09% of Par Pacific worth $19,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Par Pacific by 30.9% in the 3rd 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 during the period. JPMorgan Chase & Co. raised its stake in shares of Par Pacific by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 565,772 shares of the company’s stock worth $20,040,000 after buying an additional 106,131 shares during the period. Public Sector Pension Investment Board raised its stake in shares of Par Pacific by 6.0% in the third quarter. Public Sector Pension Investment Board now owns 397,217 shares of the company’s stock worth $14,069,000 after buying an additional 22,338 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Par Pacific by 1.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 28,078 shares of the company’s stock valued at $995,000 after buying an additional 471 shares in the last quarter. Finally, LSV Asset Management bought a new position in shares of Par Pacific during the 3rd quarter valued at approximately $3,638,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Piper Sandler set a $57.00 target price on shares of Par Pacific in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Mizuho increased their target price on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Finally, Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and an average price target of $44.00.

Par Pacific Stock Up 1.2%

Par Pacific stock opened at $42.81 on Friday. The business’s 50-day simple moving average is $38.19 and its two-hundred day simple moving average is $37.52. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51. The company has a market cap of $2.15 billion, a PE ratio of 9.01 and a beta of 1.23. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $48.40.

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.