Janney Montgomery Scott LLC Acquires 21,223 Shares of Par Pacific Holdings, Inc. $PARR

Janney Montgomery Scott LLC lifted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 29.4% during the first quarter, Holdings Channel.com reports. The firm owned 93,335 shares of the company’s stock after acquiring an additional 21,223 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Par Pacific were worth $5,847,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. LMG Wealth Partners LLC acquired a new position in Par Pacific during the 4th quarter worth about $760,000. Wakefield Asset Management LLLP bought a new stake in shares of Par Pacific in the 3rd quarter valued at about $1,330,000. Massachusetts Financial Services Co. MA increased its stake in shares of Par Pacific by 105.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock valued at $2,292,000 after buying an additional 33,537 shares during the period. Barclays PLC increased its stake in shares of Par Pacific by 24.9% in the third quarter. Barclays PLC now owns 705,832 shares of the company’s stock valued at $25,001,000 after buying an additional 140,514 shares during the period. Finally, Jackson Creek Investment Advisors LLC raised its position in shares of Par Pacific by 325.0% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock worth $1,807,000 after acquiring an additional 39,329 shares during the last quarter. Institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PARR has been the topic of a number of recent analyst reports. Piper Sandler lifted their price objective on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. JPMorgan Chase & Co. increased their target price on shares of Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Raymond James Financial raised 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. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday, June 24th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Par Pacific Stock Up 0.1%

Shares of NYSE:PARR opened at $58.56 on Friday. The company has a market capitalization of $2.94 billion, a price-to-earnings ratio of 6.54 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The business’s 50-day moving average is $58.15 and its 200-day moving average is $50.58. Par Pacific Holdings, Inc. has a 1 year low of $26.83 and a 1 year high of $70.39.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business 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%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period in the prior year, the business earned ($0.94) EPS. Equities research analysts predict that Par Pacific Holdings, Inc. will post 16.31 earnings per share for the current 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.