Wakefield Asset Management LLLP Takes $1.33 Million Position in Par Pacific Holdings, Inc. $PARR

Wakefield Asset Management LLLP bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the third quarter, according to the company in its most recent filing with the SEC. The firm bought 37,538 shares of the company’s stock, valued at approximately $1,330,000. Wakefield Asset Management LLLP owned approximately 0.07% of Par Pacific as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PARR. Federated Hermes Inc. bought a new stake in Par Pacific during the third quarter worth about $44,000. Aster Capital Management DIFC Ltd bought a new stake in Par Pacific during the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC increased its holdings in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after purchasing an additional 259 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Par Pacific in the third quarter worth $82,000. 92.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen cut Par Pacific from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 28th. Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Mizuho boosted their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. Piper Sandler set a $57.00 price objective on Par Pacific in a research report on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $47.33.

Par Pacific Trading Up 2.4%

Shares of NYSE PARR opened at $48.13 on Wednesday. Par Pacific Holdings, Inc. has a fifty-two week low of $12.04 and a fifty-two week high of $51.55. The firm has a market capitalization of $2.36 billion, a P/E ratio of 6.60 and a beta of 1.17. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49. The company’s 50 day simple moving average is $40.14 and its 200 day simple moving average is $38.99.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). The business 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%.Par Pacific’s revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.79) EPS. On average, analysts predict 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.