Hillsdale Investment Management Inc. Buys Shares of 198,766 Par Pacific Holdings, Inc. $PARR

Hillsdale Investment Management Inc. bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 198,766 shares of the company’s stock, valued at approximately $6,985,000.

A number of other hedge funds also recently added to or reduced their stakes in PARR. Federated Hermes Inc. purchased a new position in shares of Par Pacific during the 3rd quarter worth approximately $44,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Par Pacific during the 3rd quarter worth approximately $48,000. Smartleaf Asset Management LLC increased its stake in shares of Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in shares of Par Pacific during the 3rd quarter worth approximately $136,000. Finally, Mutual of America Capital Management LLC purchased a new position in shares of Par Pacific during the 3rd quarter worth approximately $201,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Raymond James Financial raised their target price on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Finally, JPMorgan Chase & Co. raised their target price on shares of Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares in the company, valued at $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by company insiders.

Par Pacific Stock Down 0.9%

Shares of NYSE PARR opened at $56.00 on Friday. Par Pacific Holdings, Inc. has a 1 year low of $20.74 and a 1 year high of $70.39. The firm’s 50 day moving average price is $61.82 and its 200 day moving average price is $48.65. The firm has a market cap of $2.81 billion, a P/E ratio of 6.25 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.94) EPS. As a group, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 15.41 earnings per share for the current year.

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.