Nicholas Investment Partners LP Acquires 9,499 Shares of Par Pacific Holdings, Inc. $PARR

Nicholas Investment Partners LP raised its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 333,538 shares of the company’s stock after acquiring an additional 9,499 shares during the quarter. Nicholas Investment Partners LP owned about 0.66% of Par Pacific worth $11,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Smartleaf Asset Management LLC boosted its stake in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after acquiring an additional 293 shares during the last quarter. Natixis Advisors LLC boosted its stake in Par Pacific by 2.8% in the fourth quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock valued at $390,000 after acquiring an additional 299 shares during the last quarter. GAMMA Investing LLC boosted its stake in Par Pacific by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock valued at $555,000 after acquiring an additional 382 shares during the last quarter. Amundi boosted its position in shares of Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company’s stock worth $388,000 after purchasing an additional 386 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Par Pacific by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 28,078 shares of the company’s stock worth $995,000 after purchasing an additional 471 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the transaction, the chief executive officer directly owned 457,167 shares in the company, valued at $24,714,448.02. The trade was a 19.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PARR. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. Mizuho raised shares of Par Pacific from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $58.00 to $79.00 in a research report on Wednesday, May 27th. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research report on Friday, March 27th. Finally, Raymond James Financial lifted their price target on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Par Pacific Stock Up 0.5%

Shares of PARR stock opened at $55.68 on Friday. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 1 year low of $23.75 and a 1 year high of $70.39. The firm’s fifty day moving average price is $60.76 and its two-hundred day moving average price is $49.55. The firm has a market capitalization of $2.79 billion, a P/E ratio of 6.21 and a beta of 0.83.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business 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 firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.94) earnings per share. On average, equities analysts predict that Par Pacific Holdings, Inc. will post 15.6 EPS 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.