54,119 Par Pacific Holdings, Inc. $PARR Shares Bought by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. lifted its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 56.4% in the 3rd quarter, Holdings Channel reports. The fund owned 150,029 shares of the company’s stock after buying an additional 54,119 shares during the period. Mawer Investment Management Ltd.’s holdings in Par Pacific were worth $12,245,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Par Pacific by 0.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock worth $110,985,000 after acquiring an additional 6,162 shares during the period. Encompass Capital Advisors LLC bought a new stake in Par Pacific in the 1st quarter valued at about $28,839,000. Empowered Funds LLC lifted its position in Par Pacific by 24.4% in the 1st quarter. Empowered Funds LLC now owns 313,605 shares of the company’s stock valued at $19,644,000 after purchasing an additional 61,464 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Par Pacific during the 2nd quarter valued at about $19,353,000. Finally, Pacer Advisors Inc. acquired a new position in Par Pacific during the 1st quarter valued at about $16,277,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

Shares of NYSE:PARR traded up $1.07 on Friday, hitting $73.10. The company’s stock had a trading volume of 520,919 shares, compared to its average volume of 876,532. Par Pacific Holdings, Inc. has a 12 month low of $34.37 and a 12 month high of $90.74. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of 3.83 and a beta of 0.82. The stock’s 50-day moving average is $79.75 and its two-hundred day moving average is $65.60. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.65.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $10.70 EPS for the quarter, beating analysts’ consensus estimates of $6.65 by $4.05. Par Pacific had a return on equity of 61.51% and a net margin of 9.81%. The company had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company earned $5.95 earnings per share. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 28.36 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial restated an “outperform” rating and issued a $117.00 target price on shares of Par Pacific in a research report on Monday, October 19th. TD Cowen dropped their price target on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. UBS Group reaffirmed a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. Weiss Ratings cut Par Pacific from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, November 2nd. Finally, Piper Sandler assumed coverage on Par Pacific in a research report on Tuesday, October 27th. They set a “neutral” rating and a $94.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and an average target price of $88.86.

Insider Activity

In related news, Director Timothy Clossey sold 10,970 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the completion of the transaction, the director owned 51,526 shares in the company, valued at $4,328,184. This represents a 17.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William Monteleone sold 40,000 shares of the stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the completion of the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at $37,167,677.10. This represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.60% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc. is an energy company focused on refining, logistics and retail operations. Its refining business produces transportation fuels and other petroleum products from crude oil and other feedstocks. The company operates refineries in Hawaii, Washington and Wyoming. Its logistics operations support the movement and storage of crude oil and refined products, while its retail business sells fuel to customers, primarily in Hawaii. Par Pacific was formed in 2012 and is headquartered in Houston, Texas.