CenterBook Partners LP Purchases Shares of 26,435 Par Pacific Holdings, Inc. $PARR

CenterBook Partners LP purchased a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 26,435 shares of the company’s stock, valued at approximately $929,000. CenterBook Partners LP owned approximately 0.05% of Par Pacific as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new position in Par Pacific in the third quarter valued at about $44,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Par Pacific in the third quarter valued at $48,000. Smartleaf Asset Management LLC increased its stake in shares of Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after buying an additional 1,048 shares in the last quarter. Quadrant Capital Group LLC acquired a new stake in shares of Par Pacific in the third quarter valued at $136,000. Finally, Osaic Holdings Inc. increased its stake in shares of Par Pacific by 19.7% in the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock valued at $154,000 after buying an additional 961 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Price Performance

Par Pacific stock opened at $57.66 on Thursday. The business’s 50-day simple moving average is $61.02 and its 200 day simple moving average is $49.43. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 6.44 and a beta of 0.83. Par Pacific Holdings, Inc. has a 12-month low of $22.30 and a 12-month high of $70.39. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. Par Pacific’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.94) EPS. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 15.41 earnings per share for the current year.

Insider Transactions at Par Pacific

In related news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 457,167 shares in the company, valued at $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PARR has been the subject of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Monday. Raymond James Financial raised their target price on Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Finally, Evercore upgraded Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific presently has an average rating of “Moderate Buy” and an average 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.