24,000 Shares in Par Pacific Holdings, Inc. $PARR Acquired by Strs Ohio

Strs Ohio bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,000 shares of the company’s stock, valued at approximately $850,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Encompass Capital Advisors LLC acquired a new position in shares of Par Pacific in the 2nd quarter valued at $34,609,000. FJ Investments LLC purchased a new position in shares of Par Pacific in the 2nd quarter worth $26,294,000. Arrowstreet Capital Limited Partnership boosted its holdings in Par Pacific by 89.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after acquiring an additional 681,190 shares during the last quarter. JPMorgan Chase & Co. grew its position in Par Pacific by 376.0% during the second quarter. JPMorgan Chase & Co. now owns 459,641 shares of the company’s stock valued at $12,194,000 after acquiring an additional 363,085 shares during the period. Finally, Jane Street Group LLC increased its stake in Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after acquiring an additional 211,002 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PARR. Tudor, Pickering, Holt & Co. raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Mizuho lifted their price target on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Piper Sandler set a $57.00 price objective on shares of Par Pacific in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 price target (up from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Par Pacific Price Performance

Shares of PARR stock opened at $36.24 on Thursday. The firm has a fifty day simple moving average of $39.15 and a 200-day simple moving average of $36.48. The company has a market capitalization of $1.82 billion, a PE ratio of 7.63 and a beta of 1.24. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $48.40. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. Par Pacific had a net margin of 3.15% and a return on equity of 23.69%. The firm’s revenue was down 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. Equities research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Richard Creamer sold 15,848 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the completion of the sale, the executive vice president owned 54,654 shares of the company’s stock, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Monteleone sold 99,284 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the completion of the sale, the chief executive officer directly owned 423,022 shares in the company, valued at $18,253,399.30. This represents a 19.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is owned by company insiders.

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.