Intech Investment Management LLC Raises Holdings in Par Pacific Holdings, Inc. $PARR

Intech Investment Management LLC increased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 142.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 149,833 shares of the company’s stock after acquiring an additional 88,096 shares during the quarter. Intech Investment Management LLC owned about 0.30% of Par Pacific worth $5,307,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 157.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after purchasing an additional 976 shares in the last quarter. Federated Hermes Inc. purchased a new stake in shares of Par Pacific during the 3rd quarter valued at approximately $44,000. Smartleaf Asset Management LLC boosted its holdings in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares during the period. USA Financial Formulas purchased a new position in Par Pacific in the 3rd quarter valued at approximately $82,000. Finally, Osaic Holdings Inc. raised its holdings in Par Pacific by 19.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock valued at $154,000 after acquiring an additional 961 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PARR has been the subject of a number of analyst reports. Piper Sandler set a $57.00 price target on Par Pacific in a report on Monday, January 12th. Mizuho raised their target price on Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Friday, December 12th. UBS Group lifted their target price on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Finally, Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Par Pacific presently has an average rating of “Hold” and an average target price of $47.33.

Par Pacific Trading Up 4.9%

PARR stock opened at $42.62 on Friday. The company has a market capitalization of $2.09 billion, a PE ratio of 5.85 and a beta of 1.23. The company’s 50 day moving average price is $38.39 and its two-hundred day moving average price is $38.04. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $48.40. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 32.01%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the previous year, the company earned ($0.79) earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. As a group, analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

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.