Vanguard Group Inc. Grows Holdings in Par Pacific Holdings, Inc. $PARR

Vanguard Group Inc. increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 30.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,044,612 shares of the company’s stock after acquiring an additional 1,190,088 shares during the quarter. Vanguard Group Inc. owned about 9.93% of Par Pacific worth $178,680,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its stake in Par Pacific by 157.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,596 shares of the company’s stock worth $42,000 after purchasing an additional 976 shares during the period. Federated Hermes Inc. purchased a new position in Par Pacific in the 3rd quarter worth about $44,000. Smartleaf Asset Management LLC lifted its holdings in Par Pacific by 81.1% during 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 in the last quarter. USA Financial Formulas purchased a new stake in Par Pacific in the 3rd quarter valued at about $82,000. Finally, Osaic Holdings Inc. grew its stake in Par Pacific by 19.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock worth $154,000 after acquiring an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $46.04 on Tuesday. The firm has a market cap of $2.26 billion, a PE ratio of 6.32 and a beta of 1.16. The business has a 50-day moving average price of $38.59 and a 200 day moving average price of $38.23. 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 Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $48.40.

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

Wall Street Analyst Weigh In

PARR has been the topic of a number of research reports. Wall Street Zen downgraded shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research note on Monday, December 29th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 16th. Finally, Piper Sandler set a $57.00 target price on Par Pacific in a research report on Monday, January 12th. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $47.33.

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.