Sierra Summit Advisors LLC Purchases Shares of 15,364 Par Pacific Holdings, Inc. $PARR

Sierra Summit Advisors LLC purchased a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 15,364 shares of the company’s stock, valued at approximately $540,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Par Pacific by 1.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $596,000 after purchasing an additional 266 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after purchasing an additional 293 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Par Pacific by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock valued at $555,000 after purchasing an additional 382 shares during the last quarter. Amundi boosted its holdings in Par Pacific by 3.6% in the third quarter. Amundi now owns 11,013 shares of the company’s stock valued at $388,000 after purchasing an additional 386 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Par Pacific by 1.7% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 28,078 shares of the company’s stock worth $995,000 after purchasing an additional 471 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PARR has been the topic of several recent research reports. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Friday, March 27th. JPMorgan Chase & Co. upped their price objective on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Raymond James Financial upped their price objective on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, UBS Group increased their target price on shares of Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.00.

Insiders Place Their Bets

In related news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.60% of the company’s stock.

Par Pacific Trading Down 5.3%

Shares of NYSE:PARR opened at $57.59 on Friday. Par Pacific Holdings, Inc. has a 1 year low of $19.28 and a 1 year high of $70.39. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 6.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The business’s 50 day moving average price is $61.35 and its 200-day moving average price is $47.99.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the business earned ($0.94) EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 13.72 earnings per share for the current fiscal year.

Par Pacific Company 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.