Par Pacific Holdings, Inc. $PARR Shares Sold by Punch & Associates Investment Management Inc.

Punch & Associates Investment Management Inc. decreased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 581,355 shares of the company’s stock after selling 132,075 shares during the quarter. Par Pacific accounts for about 1.2% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 23rd biggest holding. Punch & Associates Investment Management Inc.’s holdings in Par Pacific were worth $20,429,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Par Pacific by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 565,772 shares of the company’s stock valued at $20,040,000 after acquiring an additional 106,131 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in Par Pacific in the third quarter valued at approximately $1,330,000. LMG Wealth Partners LLC acquired a new stake in Par Pacific in the fourth quarter valued at approximately $760,000. Massachusetts Financial Services Co. MA raised its holdings in Par Pacific by 105.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock valued at $2,292,000 after acquiring an additional 33,537 shares in the last quarter. Finally, Barclays PLC raised its holdings in Par Pacific by 24.9% in the third quarter. Barclays PLC now owns 705,832 shares of the company’s stock valued at $25,001,000 after acquiring an additional 140,514 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Stock Down 1.9%

PARR stock opened at $52.44 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a twelve month low of $25.81 and a twelve month high of $70.39. The company’s 50 day moving average is $60.29 and its two-hundred day moving average is $49.70. The stock has a market cap of $2.63 billion, a P/E ratio of 5.85 and a beta of 0.83.

Par Pacific (NYSE:PARR) last released its quarterly earnings data 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 return on equity of 34.38% and a net margin of 6.02%.The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business posted ($0.94) EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts expect that Par Pacific Holdings, Inc. will post 15.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Mizuho raised shares of Par Pacific from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $79.00 in a report on Wednesday, May 27th. Raymond James Financial raised their price objective on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. TD Cowen raised their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Guggenheim raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Finally, Piper Sandler raised their price objective on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Par Pacific presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

About Par Pacific

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.