Trek Financial LLC Invests $441,000 in Par Pacific Holdings, Inc. $PARR

Trek Financial LLC purchased a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the fourth quarter, HoldingsChannel reports. The firm purchased 12,536 shares of the company’s stock, valued at approximately $441,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Par Pacific by 30.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock worth $178,680,000 after purchasing an additional 1,190,088 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Par Pacific by 6.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company’s stock worth $62,601,000 after purchasing an additional 109,705 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Par Pacific by 22.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock worth $62,203,000 after purchasing an additional 317,484 shares during the period. American Century Companies Inc. grew its holdings in shares of Par Pacific by 42.8% during the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after purchasing an additional 456,473 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Par Pacific by 2.0% during the 3rd quarter. Invesco Ltd. now owns 861,238 shares of the company’s stock worth $30,505,000 after purchasing an additional 17,269 shares during the period. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Price Performance

PARR opened at $60.42 on Thursday. The stock’s 50-day moving average price is $60.00 and its 200 day moving average price is $47.18. Par Pacific Holdings, Inc. has a 12-month low of $18.78 and a 12-month high of $70.39. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 6.74 and a beta of 0.91.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.Par Pacific’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.94) EPS. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 13.72 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on PARR. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and increased their target price for the stock from $53.00 to $77.00 in a research note on Friday, April 10th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 21st. Piper Sandler increased their target price on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Mizuho increased their target price on Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 17th. Finally, JPMorgan Chase & Co. increased their target price on Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Insider Transactions at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This trade represents a 19.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.60% of the stock is owned by corporate insiders.

About Par Pacific

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.