Inspire Investing LLC Buys 27,342 Shares of Par Pacific Holdings, Inc. $PARR

Inspire Investing LLC increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 206.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 40,606 shares of the company’s stock after purchasing an additional 27,342 shares during the quarter. Inspire Investing LLC’s holdings in Par Pacific were worth $2,544,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after purchasing an additional 1,190,088 shares during the period. SG Americas Securities LLC grew its stake in shares of Par Pacific by 7,787.1% in the fourth quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock worth $19,816,000 after purchasing an additional 556,780 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Par Pacific by 42.8% in the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock worth $53,923,000 after purchasing an additional 456,473 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Par Pacific by 810.8% during the 4th quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock valued at $12,645,000 after purchasing an additional 320,326 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Par Pacific by 22.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after purchasing an additional 317,484 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PARR. Piper Sandler increased their price objective on Par Pacific from $63.00 to $72.00 and gave the stock 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 lifted their price target for the company from $58.00 to $79.00 in a research report on Wednesday, May 27th. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Raymond James Financial increased their price target on shares of Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Finally, UBS Group lifted their target price on Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Par Pacific Stock Performance

Shares of PARR stock opened at $56.88 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $58.36 and a 200-day moving average price of $50.18. Par Pacific Holdings, Inc. has a 52 week low of $26.41 and a 52 week high of $70.39. The firm has a market capitalization of $2.85 billion, a PE ratio of 6.35 and a beta of 0.84.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned ($0.94) EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 15.6 earnings per share for the current 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.