Engineers Gate Manager LP Boosts Position in Par Pacific Holdings, Inc. $PARR

Engineers Gate Manager LP boosted its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 93.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,477 shares of the company’s stock after purchasing an additional 53,737 shares during the quarter. Engineers Gate Manager LP’s holdings in Par Pacific were worth $6,252,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PARR. NewEdge Advisors LLC acquired a new stake in Par Pacific during the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock valued at $45,000 after buying an additional 173 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after buying an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Par Pacific by 34.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after buying an additional 478 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Par Pacific in the 2nd quarter valued at $66,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PARR shares. TD Cowen cut 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. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Friday, September 4th. Guggenheim raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group upped their target price on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $81.57.

Trending Headlines about Par Pacific

Here are the key news stories impacting Par Pacific this week:

• Positive Sentiment: Refining market remains supportive: Tight refining capacity, low fuel inventories and firm demand are supporting elevated crack spreads and margins. PARR and other refiners have gained more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
• Positive Sentiment: Strong operating results and valuation: Par Pacific’s flexible crude slate and diversified refining, retail and logistics platform are viewed as supporting earnings. The company’s latest quarterly EPS of $10.10 exceeded estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion. A reported 3.50x EV/EBITDA multiple is below the industry average. Par Pacific Surges 148% in a Year
• Positive Sentiment: Analyst outlook is broadly favorable: The stock carries an overall “Buy” rating, with most covering analysts recommending Buy or Strong Buy. Recent positive commentary emphasizes the company’s downstream diversification and ability to benefit from constrained industry capacity. Can Par Pacific’s Diversified Downstream Platform Drive Growth?

Par Pacific Stock Up 1.2%

Shares of NYSE:PARR opened at $84.56 on Friday. Par Pacific Holdings, Inc. has a 1-year low of $32.24 and a 1-year high of $87.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76. The stock has a market cap of $4.24 billion, a P/E ratio of 4.93 and a beta of 0.77. The firm has a fifty day moving average price of $76.90 and a 200 day moving average price of $64.11.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, beating analysts’ consensus estimates of $8.22 by $1.88. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the previous year, the business posted $1.54 earnings per share. Par Pacific’s quarterly revenue was up 56.8% on a year-over-year basis. Sell-side analysts predict that Par Pacific Holdings, Inc. will post 21.33 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total value of $3,252,000.00. Following the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the sale, the insider owned 27,878 shares of the company’s stock, valued at $1,875,910.62. This trade represents a 10.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,248 shares of company stock valued at $4,394,057 in the last ninety days. Insiders own 3.60% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.