Par Pacific Holdings, Inc. (NYSE:PARR) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 131.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,880 shares of the company’s stock after buying an additional 49,286 shares during the period. Victory Capital Management Inc. owned 0.15% of Par Pacific worth $2,194,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Quadrant Capital Group LLC lifted its stake in Par Pacific by 91.4% in the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares during the last quarter. nVerses Capital LLC boosted its stake in Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the period. Innealta Capital LLC purchased a new position in Par Pacific during the 2nd quarter worth $104,000. EntryPoint Capital LLC acquired a new position in Par Pacific in the first quarter valued at $157,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Par Pacific by 17.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock valued at $252,000 after buying an additional 1,024 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PARR. Tudor Pickering upgraded Par Pacific to a “hold” rating in a research report on Monday, September 9th. Piper Sandler dropped their target price on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. UBS Group decreased their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. The Goldman Sachs Group dropped their price objective on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Tudor, Pickering, Holt & Co. cut shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Par Pacific has a consensus rating of “Hold” and an average price target of $32.33.

Par Pacific Price Performance

Par Pacific stock opened at $19.40 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. Par Pacific Holdings, Inc. has a one year low of $18.00 and a one year high of $40.69. The company has a market cap of $1.09 billion, a P/E ratio of 2.43 and a beta of 1.99. The business has a fifty day moving average of $22.73 and a two-hundred day moving average of $27.91.

Par Pacific (NYSE:PARR) last released its quarterly earnings data 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 net margin of 5.43% and a return on equity of 26.40%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The firm’s revenue was up 13.1% on a year-over-year basis. As a group, analysts predict that Par Pacific Holdings, Inc. will post 2.01 earnings per share for the current fiscal 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.