First Trust Advisors LP Has $8.34 Million Stock Position in Par Pacific Holdings, Inc. $PARR

First Trust Advisors LP raised its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 395.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 133,073 shares of the company’s stock after buying an additional 106,238 shares during the period. First Trust Advisors LP’s holdings in Par Pacific were worth $8,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PARR. Smartleaf Asset Management LLC lifted its position 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 worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after purchasing an additional 478 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after purchasing an additional 1,558 shares in the last quarter. Federated Hermes Inc. increased its stake 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 during the last quarter. Finally, Royal Bank of Canada increased its stake in Par Pacific by 86.3% in the 4th quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock valued at $130,000 after buying an additional 1,713 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. UBS Group raised their price objective on Par Pacific from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. Mizuho upped their target price on Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Finally, Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Par Pacific Price Performance

Shares of PARR opened at $85.87 on Friday. The company has a market cap of $4.31 billion, a price-to-earnings ratio of 9.58 and a beta of 0.82. Par Pacific Holdings, Inc. has a 1-year low of $26.83 and a 1-year high of $87.03. The company’s fifty day simple moving average is $63.06 and its 200 day simple moving average is $55.92. 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 (NYSE:PARR) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.94) EPS. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 18.6 earnings per share for the current fiscal year.

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.