Vanguard Group Inc. Grows Position in Par Pacific Holdings, Inc. $PARR

Vanguard Group Inc. raised its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 30.9% in the third quarter, Holdings Channel reports. The fund owned 5,044,612 shares of the company’s stock after buying an additional 1,190,088 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Par Pacific worth $178,680,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after purchasing an additional 4,525 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Par Pacific by 118.2% during the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock valued at $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Par Pacific by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after buying an additional 211,002 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Piper Sandler set a $57.00 price target on Par Pacific in a research note on Monday, January 12th. Mizuho lifted their price objective on Par Pacific from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. TD Cowen raised their target price on shares of Par Pacific from $39.00 to $48.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $50.00 price target on shares of Par Pacific in a research note on Wednesday, February 25th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Par Pacific currently has an average rating of “Hold” and an average price target of $47.33.

Par Pacific Price Performance

PARR opened at $46.04 on Tuesday. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $48.40. The company has a 50 day moving average of $38.59 and a two-hundred day moving average of $38.23. The company has a market cap of $2.26 billion, a P/E ratio of 6.32 and a beta of 1.16. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the company posted ($0.79) earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

About Par Pacific

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.