Par Pacific Holdings, Inc. (NYSE:PARR) Shares Purchased by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 48.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,952,754 shares of the company’s stock after purchasing an additional 636,908 shares during the period. Millennium Management LLC owned approximately 3.47% of Par Pacific worth $49,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC increased its holdings in Par Pacific by 215.1% in the second quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Par Pacific during the 2nd quarter worth approximately $43,000. nVerses Capital LLC grew its holdings in shares of Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after acquiring an additional 1,000 shares during the period. Innealta Capital LLC purchased a new position in Par Pacific in the 2nd quarter valued at approximately $104,000. Finally, Quest Partners LLC raised its holdings in Par Pacific by 141.3% during the second quarter. Quest Partners LLC now owns 5,930 shares of the company’s stock worth $150,000 after purchasing an additional 3,472 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Tudor Pickering raised Par Pacific to a “hold” rating in a report on Monday, September 9th. TD Cowen lowered their price objective on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. UBS Group cut their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Mizuho reduced their price target on shares of Par Pacific from $30.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Par Pacific has a consensus rating of “Hold” and an average target price of $30.00.

Par Pacific Price Performance

Shares of PARR stock opened at $17.60 on Tuesday. The firm has a fifty day moving average of $21.75 and a two-hundred day moving average of $26.80. The firm has a market cap of $991.41 million, a P/E ratio of 2.20 and a beta of 1.99. Par Pacific Holdings, Inc. has a 1-year low of $17.06 and a 1-year high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a return on equity of 26.40% and a net margin of 5.43%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period last year, the firm earned $1.73 earnings per share. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 1.7 earnings per share for the current fiscal year.

About Par Pacific

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.