Par Pacific Holdings, Inc. $PARR Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 23.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,772 shares of the company’s stock after acquiring an additional 106,131 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.11% of Par Pacific worth $20,040,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 157.4% during the 2nd 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 position in Par Pacific during the third quarter worth $44,000. Smartleaf Asset Management LLC raised its holdings in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after acquiring an additional 1,048 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Par Pacific in the third quarter valued at $82,000. Finally, Osaic Holdings Inc. lifted its position in shares of Par Pacific by 19.7% in the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock valued at $154,000 after acquiring an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PARR shares. Zacks Research lowered shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Wall Street Zen lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Tudor Pickering upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Thursday, November 6th. Raymond James Financial reiterated an “outperform” rating and issued a $50.00 price target on shares of Par Pacific in a report on Wednesday, February 25th. Finally, UBS Group increased their price target on Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $47.33.

Par Pacific Stock Performance

NYSE:PARR opened at $46.04 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of 6.32 and a beta of 1.16. The firm’s 50 day moving average is $38.59 and its two-hundred day moving average is $38.23. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.79) earnings per share. Analysts expect 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.