Public Sector Pension Investment Board Grows Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Public Sector Pension Investment Board lifted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 385,286 shares of the company’s stock after acquiring an additional 3,192 shares during the quarter. Public Sector Pension Investment Board owned approximately 0.66% of Par Pacific worth $9,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Headlands Technologies LLC raised its stake in Par Pacific by 215.1% during 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 during the last quarter. Quadrant Capital Group LLC increased its position in shares of Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after acquiring an additional 458 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Par Pacific in the 2nd quarter worth approximately $43,000. nVerses Capital LLC lifted its position in Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Par Pacific in the second quarter worth $104,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PARR. Piper Sandler downgraded shares of Par Pacific from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $37.00 to $23.00 in a research report on Friday. The Goldman Sachs Group reduced their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. UBS Group dropped their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. TD Cowen reduced their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Tudor Pickering raised Par Pacific to a “hold” rating in a report on Monday, September 9th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.00.

Par Pacific Trading Down 3.0 %

Shares of PARR stock opened at $18.78 on Tuesday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 2.35 and a beta of 1.99. Par Pacific Holdings, Inc. has a 12-month low of $18.00 and a 12-month high of $40.69. The stock’s 50-day moving average price is $22.48 and its 200-day moving average price is $27.58. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the business posted $1.73 earnings per share. The company’s quarterly revenue was up 13.1% compared to the same quarter last year. Equities research analysts predict that Par Pacific Holdings, Inc. will post 2.01 EPS 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.