Par Pacific Holdings, Inc. (NYSE:PARR) Shares Bought by Summit Global Investments

Summit Global Investments grew its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,182 shares of the company’s stock after purchasing an additional 7,791 shares during the quarter. Summit Global Investments owned 0.06% of Par Pacific worth $1,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PARR. Jacobs Levy Equity Management Inc. lifted its stake in shares of Par Pacific by 14.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock worth $44,676,000 after purchasing an additional 154,571 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Par Pacific in the third quarter worth about $5,295,000. American Century Companies Inc. lifted its stake in shares of Par Pacific by 14.6% in the third quarter. American Century Companies Inc. now owns 727,232 shares of the company’s stock worth $26,137,000 after acquiring an additional 92,537 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Par Pacific in the third quarter worth about $2,564,000. Finally, Boston Partners lifted its stake in shares of Par Pacific by 6.6% in the third quarter. Boston Partners now owns 1,127,022 shares of the company’s stock worth $40,016,000 after acquiring an additional 69,475 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Insider Buying and Selling

In related news, CAO Ivan Daniel Guerra sold 6,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $37.49, for a total value of $224,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,200 shares of the company’s stock, valued at approximately $607,338. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Par Pacific news, insider Jeffrey Ryan Hollis sold 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $175,733.00. Following the completion of the sale, the insider now directly owns 13,176 shares in the company, valued at $492,650.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Ivan Daniel Guerra sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $37.49, for a total value of $224,940.00. Following the completion of the sale, the chief accounting officer now owns 16,200 shares of the company’s stock, valued at $607,338. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PARR shares. Piper Sandler boosted their price objective on Par Pacific from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com lowered Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $36.75.

Par Pacific Stock Performance

Shares of NYSE:PARR traded down $0.17 during trading on Friday, hitting $30.84. 595,952 shares of the company traded hands, compared to its average volume of 727,533. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 2.58 and a beta of 1.98. The business’s fifty day moving average is $35.57 and its 200-day moving average is $35.19. Par Pacific Holdings, Inc. has a one year low of $20.30 and a one year high of $40.69. The company has a quick ratio of 0.54, a current ratio of 1.30 and a debt-to-equity ratio of 0.49.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, February 27th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). Par Pacific had a net margin of 8.85% and a return on equity of 47.63%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.45 billion. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Par Pacific Profile

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.