Par Pacific Holdings, Inc. $PARR Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 23.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 565,772 shares of the company’s stock after buying an additional 106,131 shares during the period. JPMorgan Chase & Co.’s holdings in Par Pacific were worth $20,040,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Encompass Capital Advisors LLC acquired a new stake in shares of Par Pacific in the second quarter worth $34,609,000. FJ Investments LLC purchased a new stake in Par Pacific during the 2nd quarter worth $26,294,000. Arrowstreet Capital Limited Partnership increased its holdings in Par Pacific by 89.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock valued at $38,168,000 after purchasing an additional 681,190 shares in the last quarter. Jane Street Group LLC raised its position in Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after purchasing an additional 211,002 shares during the period. Finally, Walleye Capital LLC lifted its stake in shares of Par Pacific by 48.5% during the second quarter. Walleye Capital LLC now owns 630,303 shares of the company’s stock worth $16,722,000 after purchasing an additional 205,754 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PARR. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Mizuho lifted their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Raymond James Financial reissued an “outperform” rating and set a $50.00 target price on shares of Par Pacific in a research report on Wednesday, February 25th. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Finally, UBS Group lifted their price target on shares of Par Pacific from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $47.33.

Par Pacific Stock Up 7.9%

Shares of Par Pacific stock opened at $46.04 on Tuesday. The business has a 50-day moving average price of $38.59 and a 200 day moving average price of $38.23. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $48.40. The firm has a market cap of $2.26 billion, a P/E ratio of 6.32 and a beta of 1.16. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.Par Pacific’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.79) EPS. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Par Pacific Company 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.