New York State Teachers Retirement System Sells 37,753 Shares of Par Pacific Holdings, Inc. $PARR

New York State Teachers Retirement System trimmed its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 41.5% during the first quarter, HoldingsChannel.com reports. The fund owned 53,311 shares of the company’s stock after selling 37,753 shares during the period. New York State Teachers Retirement System’s holdings in Par Pacific were worth $3,339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Inspire Investing LLC increased its stake in Par Pacific by 206.1% in the first quarter. Inspire Investing LLC now owns 40,606 shares of the company’s stock valued at $2,544,000 after purchasing an additional 27,342 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Par Pacific by 29.4% in the first quarter. Janney Montgomery Scott LLC now owns 93,335 shares of the company’s stock worth $5,847,000 after purchasing an additional 21,223 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Par Pacific by 6.4% during the first quarter. Pictet Asset Management Holding SA now owns 7,598 shares of the company’s stock worth $476,000 after purchasing an additional 455 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Par Pacific during the first quarter worth $1,397,000. Finally, LMG Wealth Partners LLC grew its holdings in shares of Par Pacific by 24.3% in the 1st quarter. LMG Wealth Partners LLC now owns 26,866 shares of the company’s stock valued at $1,683,000 after buying an additional 5,244 shares during the period. Institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

PARR has been the subject of a number of recent analyst reports. Guggenheim upgraded shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. lifted their target price on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and boosted their target price for the company from $53.00 to $77.00 in a research note on Friday, April 10th. Piper Sandler increased their price target on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Finally, Mizuho raised their price target on Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two 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 a consensus target price of $70.86.

Par Pacific Price Performance

PARR stock opened at $65.66 on Friday. The stock has a 50-day moving average price of $58.17 and a two-hundred day moving average price of $51.37. The stock has a market cap of $3.29 billion, a PE ratio of 7.33 and a beta of 0.82. 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 1 year low of $26.83 and a 1 year high of $70.39.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.94) EPS. Equities analysts forecast that Par Pacific Holdings, Inc. will post 16.31 EPS for the current fiscal year.

Par Pacific Company 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.