22,300 Shares in Par Pacific Holdings, Inc. $PARR Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System acquired a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the 1st quarter, Holdings Channel reports. The fund acquired 22,300 shares of the company’s stock, valued at approximately $1,397,000.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its holdings in shares of Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares during the period. Aster Capital Management DIFC Ltd raised its holdings in Par Pacific by 34.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after buying an additional 478 shares during the period. Rockefeller Capital Management L.P. lifted its position in Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after buying an additional 1,558 shares during the last quarter. Federated Hermes Inc. lifted its position in Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after buying an additional 866 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in Par Pacific by 86.3% in the fourth quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock worth $130,000 after buying an additional 1,713 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PARR. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday, June 24th. Piper Sandler upped their price target on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Guggenheim raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Par Pacific has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Par Pacific Price Performance

PARR opened at $58.56 on Friday. The business has a fifty day moving average of $58.27 and a 200 day moving average of $50.52. The stock has a market cap of $2.94 billion, a P/E ratio of 6.54 and a beta of 0.82. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 52-week low of $26.83 and a 52-week high of $70.39.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business earned ($0.94) EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 16.31 EPS for the current 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.