Bridgefront Capital LLC Purchases Shares of 11,468 Par Pacific Holdings, Inc. $PARR

Bridgefront Capital LLC purchased a new position in Par Pacific Holdings, Inc. (NYSE:PARR) in the 3rd quarter, HoldingsChannel reports. The fund purchased 11,468 shares of the company’s stock, valued at approximately $406,000.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. acquired a new position in Par Pacific during the 3rd quarter worth $44,000. Aster Capital Management DIFC Ltd acquired a new stake in Par Pacific in the 3rd quarter valued at about $48,000. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after buying an additional 259 shares during the period. Finally, USA Financial Formulas purchased a new position in shares of Par Pacific in the 3rd quarter valued at about $82,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE PARR opened at $53.19 on Tuesday. The stock’s 50-day simple moving average is $41.49 and its 200-day simple moving average is $39.54. The firm has a market capitalization of $2.61 billion, a PE ratio of 7.30 and a beta of 1.16. Par Pacific Holdings, Inc. has a fifty-two week low of $12.04 and a fifty-two week high of $55.31. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 1.61.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period last year, the company earned ($0.79) earnings per share. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Mizuho upped their target price on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Par Pacific from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $49.50.

About Par Pacific

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.