Teacher Retirement System of Texas Raises Holdings in Par Pacific Holdings, Inc. $PARR

Teacher Retirement System of Texas boosted its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 165.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,095 shares of the company’s stock after purchasing an additional 40,605 shares during the quarter. Teacher Retirement System of Texas owned about 0.13% of Par Pacific worth $2,306,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strs Ohio acquired a new stake in shares of Par Pacific in the third quarter valued at about $850,000. Bailard Inc. purchased a new stake in Par Pacific during the 3rd quarter valued at about $492,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Par Pacific in the 3rd quarter valued at about $1,149,000. Wealth Enhancement Advisory Services LLC raised its holdings in Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock valued at $596,000 after acquiring an additional 266 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 99,284 shares of Par Pacific stock in a transaction on Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the sale, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the transaction, the executive vice president directly owned 54,654 shares in the company, valued at approximately $2,252,837.88. The trade was a 22.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group increased their price target on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Tudor Pickering raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. The Goldman Sachs Group lifted their price target on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Tudor, Pickering, Holt & Co. raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Finally, Mizuho lifted 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. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Par Pacific Price Performance

Shares of PARR opened at $36.50 on Friday. The firm has a 50-day simple moving average of $39.03 and a two-hundred day simple moving average of $36.48. The stock has a market cap of $1.84 billion, a PE ratio of 7.68 and a beta of 1.24. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $48.40. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The firm had revenue of $2.01 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the company posted ($0.10) EPS. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. As a group, analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

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.