Globeflex Capital L P Reduces Stake in Par Pacific Holdings, Inc. $PARR

Globeflex Capital L P cut its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 21.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 50,010 shares of the company’s stock after selling 13,497 shares during the period. Globeflex Capital L P’s holdings in Par Pacific were worth $3,133,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd grew its holdings in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after purchasing an additional 478 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Par Pacific by 385.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after buying an additional 1,558 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Par Pacific by 70.4% during the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after buying an additional 866 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of 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 in the last quarter. Finally, HB Wealth Management LLC purchased a new stake in shares of Par Pacific in the 1st quarter worth about $205,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Down 1.1%

PARR opened at $79.49 on Thursday. The firm has a market cap of $3.99 billion, a P/E ratio of 8.87 and a beta of 0.82. The business’s fifty day simple moving average is $60.02 and its 200 day simple moving average is $53.86. Par Pacific Holdings, Inc. has a 52 week low of $26.83 and a 52 week high of $82.29. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.94) EPS. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 17.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and increased their price target for the company from $53.00 to $77.00 in a research report on Friday, April 10th. Evercore raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lifted their price objective on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.43.

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.