Versor Investments LP Takes Position in Par Pacific Holdings, Inc. $PARR

Versor Investments LP purchased a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 17,700 shares of the company’s stock, valued at approximately $627,000.

A number of other institutional investors also recently bought and sold shares of the stock. Encompass Capital Advisors LLC bought a new position in Par Pacific during the second quarter valued at $34,609,000. FJ Investments LLC purchased a new position in shares of Par Pacific during the 2nd quarter worth about $26,294,000. Arrowstreet Capital Limited Partnership grew its holdings in Par Pacific by 89.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after purchasing an additional 681,190 shares during the last quarter. JPMorgan Chase & Co. raised its position in Par Pacific by 376.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 459,641 shares of the company’s stock worth $12,194,000 after purchasing an additional 363,085 shares during the period. Finally, Jane Street Group LLC raised its position in Par Pacific by 352.7% in the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 99,284 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $18,253,399.30. This trade represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

PARR has been the topic of a number of analyst reports. Piper Sandler set a $57.00 target price on Par Pacific in a research note on Monday, January 12th. The Goldman Sachs Group boosted their price objective on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, October 22nd. Wall Street Zen lowered Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 7th. Mizuho lifted their target price on Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Finally, Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Par Pacific presently has an average rating of “Hold” and an average price target of $44.00.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $42.47 on Thursday. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70. The stock’s fifty day moving average price is $38.23 and its 200-day moving average price is $37.02. The firm has a market cap of $2.14 billion, a P/E ratio of 8.94 and a beta of 1.23. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month 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.