Par Pacific Holdings, Inc. $PARR is Towle & Co.’s 10th Largest Position

Towle & Co. cut its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 57.6% during the 1st quarter, Holdings Channel reports. The fund owned 116,263 shares of the company’s stock after selling 157,871 shares during the period. Par Pacific comprises 2.8% of Towle & Co.’s portfolio, making the stock its 10th biggest holding. Towle & Co.’s holdings in Par Pacific were worth $7,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its position in shares of Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after acquiring an additional 4,525 shares during the period. AQR Capital Management LLC raised its holdings in Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after purchasing an additional 1,427 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Par Pacific by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $77.73 on Friday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of 8.68 and a beta of 0.82. The firm has a fifty day moving average price of $60.38 and a 200 day moving average price of $54.15. Par Pacific Holdings, Inc. has a fifty-two week low of $26.83 and a fifty-two week high of $82.29. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on PARR. Mizuho raised their price objective on Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, July 9th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Guggenheim upgraded shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. UBS Group lifted their price target 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. Finally, Raymond James Financial upped their price target on shares of Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Par Pacific has an average rating of “Moderate Buy” and an average price target of $81.57.

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.