VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Par Pacific Holdings, Inc. $PARR

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the second quarter, HoldingsChannel.com reports. The fund purchased 53,800 shares of the company’s stock, valued at approximately $3,017,000.

Several other institutional investors have also modified their holdings of the business. California State Teachers Retirement System grew its position in shares of Par Pacific by 5,095.4% in the 2nd quarter. California State Teachers Retirement System now owns 3,120,123 shares of the company’s stock valued at $174,976,000 after purchasing an additional 3,060,068 shares during the period. Dimensional Fund Advisors LP increased its stake in Par Pacific by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company’s stock worth $62,363,000 after purchasing an additional 7,280 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Par Pacific by 0.3% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock worth $110,985,000 after buying an additional 6,162 shares during the period. Geode Capital Management LLC raised its holdings in Par Pacific by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company’s stock worth $42,954,000 after buying an additional 21,254 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Par Pacific by 13.1% in the fourth quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company’s stock valued at $35,455,000 after buying an additional 117,200 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Insider Activity

In related news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Monteleone sold 40,000 shares of Par Pacific stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. This represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. 3.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PARR. Benchmark reiterated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. TD Cowen cut their price objective on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Evercore raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Raymond James Financial increased their target price on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Guggenheim upgraded Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Par Pacific has an average rating of “Buy” and a consensus price target of $81.57.

Par Pacific Stock Performance

Shares of PARR opened at $83.60 on Friday. Par Pacific Holdings, Inc. has a 12 month low of $32.24 and a 12 month high of $87.03. The firm has a fifty day simple moving average of $76.38 and a 200 day simple moving average of $63.97. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 4.88 and a beta of 0.77. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) 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 firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business earned $1.54 EPS. The company’s revenue was up 56.8% compared to the same quarter last year. Research analysts forecast that Par Pacific Holdings, Inc. will post 21.33 EPS for the current fiscal year.

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.