PNC Financial Services Group Inc. Increases Position in Par Pacific Holdings, Inc. (NYSE:PARR)

PNC Financial Services Group Inc. lifted its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 17.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,920 shares of the company’s stock after buying an additional 1,024 shares during the period. PNC Financial Services Group Inc.’s holdings in Par Pacific were worth $252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Kennedy Capital Management LLC lifted its stake in shares of Par Pacific by 2.4% during the third quarter. Kennedy Capital Management LLC now owns 12,235 shares of the company’s stock valued at $440,000 after buying an additional 287 shares during the period. Mackenzie Financial Corp increased its position in Par Pacific by 4.0% during the fourth quarter. Mackenzie Financial Corp now owns 8,270 shares of the company’s stock worth $301,000 after purchasing an additional 317 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Par Pacific by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 27,703 shares of the company’s stock worth $1,008,000 after purchasing an additional 324 shares during the last quarter. Exchange Traded Concepts LLC increased its position in Par Pacific by 1.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 24,168 shares of the company’s stock worth $879,000 after purchasing an additional 348 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after purchasing an additional 458 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. StockNews.com lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Finally, TD Cowen dropped their price target on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.25.

Par Pacific Price Performance

Par Pacific stock opened at $25.30 on Tuesday. Par Pacific Holdings, Inc. has a 52-week low of $23.78 and a 52-week high of $40.69. The firm has a fifty day moving average of $27.47 and a 200-day moving average of $33.23. The firm has a market capitalization of $1.47 billion, a P/E ratio of 3.17 and a beta of 1.99. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.06). The business had revenue of $1.98 billion during the quarter, compared to analyst estimates of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. As a group, analysts predict that Par Pacific Holdings, Inc. will post 2.92 EPS for the current 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.