Birchbrook Inc. Acquires 2,000 Shares of Par Pacific Holdings, Inc. $PARR

Birchbrook Inc. lifted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 44.4% during the 2nd quarter, Holdings Channel reports. The firm owned 6,500 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Birchbrook Inc.’s holdings in Par Pacific were worth $172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PARR. Creative Planning grew its position in Par Pacific by 43.8% during the second quarter. Creative Planning now owns 50,438 shares of the company’s stock worth $1,338,000 after buying an additional 15,362 shares in the last quarter. SG Americas Securities LLC raised its holdings in Par Pacific by 83.9% in the 2nd quarter. SG Americas Securities LLC now owns 31,775 shares of the company’s stock valued at $843,000 after acquiring an additional 14,492 shares in the last quarter. Police & Firemen s Retirement System of New Jersey lifted its position in shares of Par Pacific by 7.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 12,337 shares of the company’s stock valued at $327,000 after acquiring an additional 820 shares during the period. Everett Harris & Co. CA acquired a new stake in shares of Par Pacific during the 2nd quarter worth $739,000. Finally, Allworth Financial LP increased its position in shares of Par Pacific by 507.9% in the second quarter. Allworth Financial LP now owns 50,699 shares of the company’s stock worth $1,345,000 after purchasing an additional 42,359 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PARR. Cowen reiterated a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. Mizuho upped their price target on shares of Par Pacific from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Tudor, Pickering, Holt & Co. raised shares of Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, UBS Group raised their target price on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Par Pacific has an average rating of “Moderate Buy” and an average target price of $41.57.

Insiders Place Their Bets

In other Par Pacific news, EVP Richard Creamer sold 15,848 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total value of $653,254.56. Following the completion of the transaction, the executive vice president directly owned 54,654 shares in the company, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total transaction of $180,627.40. Following the completion of the transaction, the insider owned 24,679 shares of the company’s stock, valued at approximately $852,659.45. This trade represents a 17.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 36,638 shares of company stock worth $1,371,866. Company insiders own 4.40% of the company’s stock.

Par Pacific Price Performance

PARR stock opened at $46.20 on Wednesday. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of -164.98 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The company has a 50 day simple moving average of $37.68 and a 200 day simple moving average of $31.08. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $48.40.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company’s revenue was down 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. Research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.