The Manufacturers Life Insurance Company Acquires 39,404 Shares of Par Pacific Holdings, Inc. $PARR

The Manufacturers Life Insurance Company increased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 170.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,505 shares of the company’s stock after buying an additional 39,404 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Par Pacific were worth $3,916,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after acquiring an additional 1,048 shares during the period. Aster Capital Management DIFC Ltd grew its position in shares of Par Pacific by 34.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after acquiring an additional 478 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after purchasing an additional 1,558 shares in the last quarter. Federated Hermes Inc. raised its holdings in Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after purchasing an additional 866 shares during the period. Finally, Royal Bank of Canada raised its holdings in Par Pacific by 86.3% in the 4th quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock worth $130,000 after purchasing an additional 1,713 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Trading Down 3.8%

Shares of PARR stock opened at $66.32 on Friday. Par Pacific Holdings, Inc. has a 52-week low of $26.92 and a 52-week high of $87.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.60 and a current ratio of 1.84. The firm has a market capitalization of $3.33 billion, a PE ratio of 3.87 and a beta of 0.78. The stock has a fifty day simple moving average of $64.79 and a two-hundred day simple moving average of $57.20.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 EPS for the quarter, beating the consensus estimate of $8.22 by $1.88. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The business’s revenue was up 56.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.54 earnings per share. On average, analysts predict that Par Pacific Holdings, Inc. will post 18.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on PARR. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Guggenheim raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. TD Cowen cut their price objective on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday. Raymond James Financial increased their target price on shares of Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Par Pacific presently has a consensus rating of “Buy” and a consensus price target of $80.86.

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.