Triumph Capital Management Acquires 8,142 Shares of Par Pacific Holdings, Inc. $PARR

Triumph Capital Management raised its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 154.9% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,397 shares of the company’s stock after purchasing an additional 8,142 shares during the period. Triumph Capital Management’s holdings in Par Pacific were worth $751,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PARR. BTG Pactual Asset Management US LLC purchased a new stake in shares of Par Pacific in the second quarter worth approximately $237,000. Navellier & Associates Inc. lifted its holdings in shares of Par Pacific by 201.2% in the second quarter. Navellier & Associates Inc. now owns 18,531 shares of the company’s stock valued at $1,039,000 after purchasing an additional 12,379 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Par Pacific during the second quarter valued at approximately $66,000. Ninepoint Partners LP purchased a new position in shares of Par Pacific during the second quarter valued at approximately $1,402,000. Finally, Bank of New York Mellon Corp bought a new stake in Par Pacific during the second quarter worth $19,353,000. 92.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the transaction, the insider directly owned 27,878 shares of the company’s stock, valued at $1,875,910.62. This represents a 10.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by insiders.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $80.08 on Wednesday. The company’s 50-day moving average is $72.71 and its 200 day moving average is $62.02. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. The company has a market capitalization of $4.01 billion, a P/E ratio of 4.67 and a beta of 0.77. Par Pacific Holdings, Inc. has a fifty-two week low of $32.24 and a fifty-two week high of $87.03.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, beating the consensus estimate of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the prior year, the business earned $1.54 earnings per share. The firm’s revenue for the quarter was up 56.8% on a year-over-year basis. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PARR. The Goldman Sachs Group increased their price target on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Evercore raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Guggenheim upgraded shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Raymond James Financial increased their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

Par Pacific Company 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.