Nicholas Investment Partners LP Has $11.72 Million Stock Position in Par Pacific Holdings, Inc. $PARR

Nicholas Investment Partners LP boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 2.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 333,538 shares of the company’s stock after buying an additional 9,499 shares during the period. Nicholas Investment Partners LP’s holdings in Par Pacific were worth $11,721,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new position in Par Pacific in the 3rd quarter valued at about $48,000. Smartleaf Asset Management LLC grew its stake in 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 last quarter. Federated Hermes Inc. grew its stake in Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock valued at $74,000 after buying an additional 866 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Par Pacific in the 3rd quarter valued at about $136,000. 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 valued at $154,000 after buying an additional 961 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

PARR has been the subject of a number of recent research reports. Piper Sandler boosted their price objective 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. Mizuho raised shares of Par Pacific from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $58.00 to $79.00 in a report on Wednesday, May 27th. JPMorgan Chase & Co. boosted their price objective on shares of Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Finally, Raymond James Financial upped their price target on shares of Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Nine research analysts have rated the stock with a Buy rating and three have issued 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 an average target price of $70.00.

Insider Transactions at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.60% of the company’s stock.

Par Pacific Price Performance

PARR stock opened at $55.68 on Friday. The company has a 50 day simple moving average of $60.76 and a 200 day simple moving average of $49.55. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 6.21 and a beta of 0.83. Par Pacific Holdings, Inc. has a 1 year low of $23.75 and a 1 year high of $70.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The company had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.Par Pacific’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.94) earnings per share. Research analysts anticipate that Par Pacific Holdings, Inc. will post 15.6 EPS for the current fiscal 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.