Encompass Capital Advisors LLC Invests $28.84 Million in Par Pacific Holdings, Inc. $PARR

Encompass Capital Advisors LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 460,393 shares of the company’s stock, valued at approximately $28,839,000.

A number of other large investors have also added to or reduced their stakes in PARR. LMG Wealth Partners LLC acquired a new position in shares of Par Pacific in the fourth quarter valued at $760,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Par Pacific by 105.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock worth $2,292,000 after buying an additional 33,537 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Par Pacific by 22.5% during the 4th quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock worth $17,811,000 after buying an additional 93,249 shares during the last quarter. Jackson Creek Investment Advisors LLC boosted its holdings in shares of Par Pacific by 325.0% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock worth $1,807,000 after buying an additional 39,329 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new position in Par Pacific in the 4th quarter valued at about $6,985,000. Institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Mizuho increased their price target on shares of Par Pacific from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, July 9th. TD Cowen boosted their price objective on Par Pacific from $78.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Guggenheim raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Evercore upgraded Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific has an average rating of “Moderate Buy” and a consensus price target of $81.57.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $78.68 on Tuesday. The firm has a 50 day moving average of $61.15 and a 200-day moving average of $54.74. The stock has a market capitalization of $3.95 billion, a PE ratio of 8.78 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 12 month low of $26.83 and a 12 month high of $82.29.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results 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). The firm had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted ($0.94) EPS. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 18.6 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.