Par Pacific Holdings, Inc. $PARR Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets boosted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 22.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 506,872 shares of the company’s stock after buying an additional 93,249 shares during the quarter. BNP Paribas Financial Markets’ holdings in Par Pacific were worth $17,811,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock valued at $94,000 after purchasing an additional 293 shares during the period. GAMMA Investing LLC raised its position in Par Pacific by 2.5% during the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock valued at $555,000 after acquiring an additional 382 shares in the last quarter. Amundi raised its position in Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company’s stock valued at $388,000 after acquiring an additional 386 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Par Pacific by 1.7% during the third quarter. Illinois Municipal Retirement Fund now owns 28,078 shares of the company’s stock valued at $995,000 after acquiring an additional 471 shares in the last quarter. Finally, GF Fund Management CO. LTD. raised its position in Par Pacific by 5.0% during the fourth quarter. GF Fund Management CO. LTD. now owns 14,687 shares of the company’s stock valued at $516,000 after acquiring an additional 694 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Par Pacific

In related news, CEO William Monteleone sold 108,948 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.

Par Pacific Stock Performance

NYSE PARR opened at $55.62 on Friday. Par Pacific Holdings, Inc. has a 1-year low of $21.01 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. The company has a market cap of $2.79 billion, a PE ratio of 6.21 and a beta of 0.83. The stock’s 50 day simple moving average is $61.49 and its 200-day simple moving average is $49.14.

Par Pacific (NYSE:PARR) last posted its quarterly 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). 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 during the quarter, compared to analyst estimates of $1.78 billion. During the same period in the prior year, the business posted ($0.94) EPS. Par Pacific’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 15.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore upgraded Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Mizuho upgraded Par Pacific from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $58.00 to $79.00 in a research report on Wednesday, May 27th. Piper Sandler increased their price target on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Finally, Raymond James Financial increased their price target on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Par Pacific currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Par Pacific 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 Oʻahu, 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.