Counterpoint Mutual Funds LLC Makes New Investment in Par Pacific Holdings, Inc. $PARR

Counterpoint Mutual Funds LLC purchased a new position in Par Pacific Holdings, Inc. (NYSE:PARR) during the third quarter, HoldingsChannel.com reports. The fund purchased 9,545 shares of the company’s stock, valued at approximately $779,000.

Other large investors also recently modified their holdings of the company. NewEdge Advisors LLC bought a new stake in shares of Par Pacific during the 1st quarter valued at about $26,000. EverSource Wealth Advisors LLC raised its stake in Par Pacific by 32.0% during the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after acquiring an additional 173 shares during the period. USA Financial Formulas bought a new position in Par Pacific in the third quarter worth about $45,000. Fortitude Family Office LLC lifted its holdings in Par Pacific by 498.1% in the third quarter. Fortitude Family Office LLC now owns 616 shares of the company’s stock worth $50,000 after acquiring an additional 513 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in Par Pacific in the second quarter worth about $66,000. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Down 0.1%

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

Par Pacific (NYSE:PARR) last released its quarterly earnings data 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 business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company’s revenue for the quarter was up 56.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.54 EPS. As a group, equities analysts expect that Par Pacific Holdings, Inc. will post 26.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. The Goldman Sachs Group downgraded Par Pacific from a “buy” rating to a “neutral” rating and lifted their target price for the company from $90.00 to $94.00 in a research note on Thursday. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. UBS Group reiterated a “neutral” rating on shares of Par Pacific in a research report on Wednesday, August 26th. Raymond James Financial raised their price target on Par Pacific from $90.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Finally, Mizuho set a $91.00 price objective on Par Pacific and gave the company a “neutral” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.43.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.29, for a total value of $220,576.62. Following the sale, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. This trade represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy Clossey sold 10,970 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the completion of the sale, the director owned 51,526 shares in the company, valued at $4,328,184. The trade was a 17.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,248 shares of company stock valued at $4,394,057 in the last ninety days. Company insiders own 3.60% of the company’s stock.

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.