Intech Investment Management LLC Acquires 88,096 Shares of Par Pacific Holdings, Inc. $PARR

Intech Investment Management LLC grew its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 142.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 149,833 shares of the company’s stock after purchasing an additional 88,096 shares during the quarter. Intech Investment Management LLC’s holdings in Par Pacific were worth $5,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PARR. Nisa Investment Advisors LLC lifted its position in Par Pacific by 157.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after buying an additional 976 shares during the period. Federated Hermes Inc. bought a new position in shares of Par Pacific in the third quarter worth approximately $44,000. Smartleaf Asset Management LLC lifted its position in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after acquiring an additional 1,048 shares in the last quarter. USA Financial Formulas bought a new position in shares of Par Pacific during the third quarter valued at $82,000. Finally, Osaic Holdings Inc. boosted its holdings in shares of Par Pacific by 19.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock valued at $154,000 after acquiring an additional 961 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

PARR stock opened at $42.62 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 5.85 and a beta of 1.23. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $48.40. The business’s fifty day simple moving average is $38.39 and its two-hundred day simple moving average is $38.04. The company has a quick ratio of 0.48, a current ratio of 1.51 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 32.01%. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period last year, the firm earned ($0.79) earnings per share. Par Pacific’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on PARR. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Zacks Research lowered shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 target price on shares of Par Pacific in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Finally, Piper Sandler set a $57.00 price objective on Par Pacific in a research note on Monday, January 12th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $47.33.

Par Pacific Profile

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 O?ahu, 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.