Sierra Summit Advisors LLC Buys Shares of 15,364 Par Pacific Holdings, Inc. $PARR

Sierra Summit Advisors LLC bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 15,364 shares of the company’s stock, valued at approximately $540,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Par Pacific in the third quarter valued at about $1,149,000. JPMorgan Chase & Co. grew its holdings in Par Pacific by 23.1% in the third quarter. JPMorgan Chase & Co. now owns 565,772 shares of the company’s stock worth $20,040,000 after purchasing an additional 106,131 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Par Pacific by 38.5% in the third quarter. Principal Financial Group Inc. now owns 354,439 shares of the company’s stock worth $12,554,000 after purchasing an additional 98,524 shares during the last quarter. Wakefield Asset Management LLLP purchased a new position in Par Pacific in the third quarter worth $1,330,000. Finally, LMG Wealth Partners LLC purchased a new position in Par Pacific in the fourth quarter worth $760,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

PARR has been the topic of several analyst reports. Zacks Research raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 21st. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Piper Sandler lifted their price target on shares of Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Mizuho boosted their price target on Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Finally, UBS Group boosted their price target on Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.00.

Insider Buying and Selling at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the sale, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $24,714,448.02. The trade was a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by company insiders.

Par Pacific Price Performance

Shares of PARR opened at $57.59 on Friday. The firm has a market capitalization of $2.89 billion, a PE ratio of 6.43 and a beta of 0.91. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. Par Pacific Holdings, Inc. has a 1-year low of $19.28 and a 1-year high of $70.39. The company’s fifty day moving average price is $61.35 and its 200-day moving average price is $47.99.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data 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 company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. Par Pacific’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.94) earnings per share. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 13.72 EPS for the current 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.