Teacher Retirement System of Texas Raises Position in Par Pacific Holdings, Inc. $PARR

Teacher Retirement System of Texas grew its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 165.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,095 shares of the company’s stock after acquiring an additional 40,605 shares during the period. Teacher Retirement System of Texas’ holdings in Par Pacific were worth $2,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Farther Finance Advisors LLC boosted its holdings in Par Pacific by 175.9% in the second quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after purchasing an additional 753 shares during the period. Nisa Investment Advisors LLC raised its position in Par Pacific by 157.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock valued at $42,000 after purchasing an additional 976 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake 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 valued at $62,000 after buying an additional 1,048 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Par Pacific by 17.4% during the second quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company’s stock worth $76,000 after buying an additional 428 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Par Pacific during the third quarter worth approximately $82,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO William Monteleone sold 99,284 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $43.15, for a total value of $4,284,104.60. Following the completion of the sale, the chief executive officer directly owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. This represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Richard Creamer sold 15,848 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $41.22, for a total transaction of $653,254.56. Following the transaction, the executive vice president owned 54,654 shares in the company, valued at approximately $2,252,837.88. This trade represents a 22.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.40% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $36.50 on Friday. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $48.40. The firm has a market capitalization of $1.84 billion, a P/E ratio of 7.68 and a beta of 1.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48. The company’s fifty day moving average price is $39.03 and its 200 day moving average price is $36.48.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $3.97. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter last year, the company posted ($0.10) earnings per share. The business’s quarterly revenue was down 6.1% compared to the same quarter last year. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

PARR has been the topic of several analyst reports. Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. UBS Group raised their price objective on shares of Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. Tudor, Pickering, Holt & Co. upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Zacks Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group lifted their price target on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific currently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

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.