SummerHaven Investment Management LLC Purchases New Holdings in Par Pacific Holdings, Inc. $PARR

SummerHaven Investment Management LLC purchased a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,158 shares of the company’s stock, valued at approximately $2,625,000. Par Pacific makes up approximately 1.8% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 7th biggest holding. SummerHaven Investment Management LLC owned approximately 0.06% of Par Pacific at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Par Pacific during the 3rd quarter worth approximately $779,000. USA Financial Formulas acquired a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $45,000. Vontobel Holding Ltd. boosted its holdings in shares of Par Pacific by 20.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,335 shares of the company’s stock valued at $354,000 after buying an additional 743 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $3,242,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Par Pacific by 498.1% in the 3rd quarter. Fortitude Family Office LLC now owns 616 shares of the company’s stock valued at $50,000 after buying an additional 513 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Trading Down 0.1%

Par Pacific stock opened at $83.69 on Friday. Par Pacific Holdings, Inc. has a 52 week low of $34.37 and a 52 week high of $90.74. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The stock has a market capitalization of $4.19 billion, a P/E ratio of 4.88 and a beta of 0.75. The stock has a 50-day simple moving average of $81.16 and a 200 day simple moving average of $69.65.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share 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 the consensus estimate of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The business’s revenue was up 56.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.54 earnings per share. Analysts expect that Par Pacific Holdings, Inc. will post 26.56 earnings per share for the current year.

Insider Transactions at Par Pacific

In other news, Director Timothy Clossey sold 10,970 shares of Par Pacific stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the transaction, the director directly owned 51,526 shares in the company, valued at approximately $4,328,184. The trade was a 17.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO William Monteleone sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the transaction, the chief executive officer directly owned 457,167 shares in the company, valued at $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 54,248 shares of company stock worth $4,394,057. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on PARR. Raymond James Financial raised their target price on shares of Par Pacific from $90.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, September 14th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 4th. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Mizuho set a $91.00 price target on shares of Par Pacific and gave the company a “neutral” rating in a research note on Thursday, October 8th. Finally, Weiss Ratings upgraded shares of Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.43.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.