Kestra Advisory Services LLC Raises Holdings in Par Pacific Holdings, Inc. $PARR

Kestra Advisory Services LLC increased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 135.2% during the first quarter, HoldingsChannel.com reports. The fund owned 12,700 shares of the company’s stock after buying an additional 7,300 shares during the period. Kestra Advisory Services LLC’s holdings in Par Pacific were worth $796,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PARR. Smartleaf Asset Management LLC increased its holdings in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after purchasing an additional 1,048 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Par Pacific by 34.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock worth $65,000 after buying an additional 478 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after buying an additional 1,558 shares in the last quarter. Federated Hermes Inc. grew its holdings in Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock valued at $74,000 after buying an additional 866 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in shares of Par Pacific by 86.3% in the 4th quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock worth $130,000 after acquiring an additional 1,713 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $77.35 on Friday. Par Pacific Holdings, Inc. has a one year low of $26.83 and a one year high of $82.29. The company has a market cap of $3.88 billion, a PE ratio of 8.63 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. The business has a 50-day simple moving average of $60.76 and a 200-day simple moving average of $54.32.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business earned ($0.94) earnings per share. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 18.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PARR shares. Piper Sandler upped their price objective on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. TD Cowen lifted their target price on shares of Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. The Goldman Sachs Group increased their price target on shares of Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. One investment 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.