Wakefield Asset Management LLLP Acquires New Shares in Par Pacific Holdings, Inc. $PARR

Wakefield Asset Management LLLP bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 37,538 shares of the company’s stock, valued at approximately $1,330,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PARR. Royal Bank of Canada raised its position in shares of Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after purchasing an additional 4,525 shares during the period. AQR Capital Management LLC increased its stake in Par Pacific by 118.2% during the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after purchasing an additional 89,023 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Par Pacific by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after purchasing an additional 1,427 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after buying an additional 6,618 shares during the period. Finally, Jane Street Group LLC lifted its stake in Par Pacific by 352.7% in the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after buying an additional 211,002 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler set a $57.00 price target on shares of Par Pacific in a report on Monday, January 12th. Mizuho boosted their price objective on shares of Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Friday, December 12th. Wall Street Zen lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 28th. Raymond James Financial reiterated an “outperform” rating and set a $50.00 target price on shares of Par Pacific in a report on Wednesday, February 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and a consensus price target of $47.33.

Par Pacific Stock Performance

Shares of PARR stock opened at $48.13 on Wednesday. Par Pacific Holdings, Inc. has a 12 month low of $12.04 and a 12 month high of $51.55. The company’s fifty day simple moving average is $40.14 and its 200-day simple moving average is $38.99. The firm has a market cap of $2.36 billion, a PE ratio of 6.60 and a beta of 1.17. 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 (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.79) earnings per share. Equities research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

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.