Par Pacific Holdings, Inc. $PARR Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 89.9% during the second quarter, Holdings Channel reports. The firm owned 1,438,677 shares of the company’s stock after purchasing an additional 681,190 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Par Pacific were worth $38,168,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Par Pacific by 27.3% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,405 shares of the company’s stock valued at $262,000 after buying an additional 3,943 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Par Pacific by 54.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company’s stock valued at $117,000 after acquiring an additional 2,884 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Par Pacific by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after purchasing an additional 296,536 shares during the last quarter. Invesco Ltd. increased its position in shares of Par Pacific by 6.2% during the first quarter. Invesco Ltd. now owns 1,157,058 shares of the company’s stock worth $16,500,000 after purchasing an additional 67,481 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Par Pacific in the 1st quarter valued at about $12,750,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Tudor Pickering upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Mizuho raised their target price on shares of Par Pacific from $40.00 to $45.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 11th. UBS Group lifted their target price on shares of Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. The Goldman Sachs Group increased their price target on shares of Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Zacks Research upgraded shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $41.57.

Par Pacific Stock Performance

NYSE PARR opened at $43.71 on Friday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 9.20 and a beta of 1.25. The business’s 50 day moving average is $40.12 and its two-hundred day moving average is $33.30. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $48.40. The company has a current ratio of 1.51, a quick ratio of 0.48 and a debt-to-equity ratio of 0.70.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $3.97. The firm had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.10) earnings per share. Research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Transactions at Par Pacific

In related news, CEO William Monteleone sold 99,284 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the sale, the chief executive officer owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard Creamer sold 15,848 shares of the company’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $41.22, for a total transaction of $653,254.56. Following the transaction, the executive vice president owned 54,654 shares in the company, valued at $2,252,837.88. The trade was a 22.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 117,132 shares of company stock valued at $5,004,099 in the last ninety days. 4.40% of the stock is currently owned by company insiders.

Par Pacific Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.