Corient Private Wealth LLC Takes Position in Par Pacific Holdings, Inc. $PARR

Corient Private Wealth LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,822 shares of the company’s stock, valued at approximately $345,000.

A number of other large investors have also recently bought and sold shares of PARR. Smartleaf Asset Management LLC increased its holdings in Par Pacific by 81.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after buying an additional 1,048 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in shares of Par Pacific by 34.9% in 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 last quarter. Federated Hermes Inc. increased its stake in shares of Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after acquiring an additional 866 shares during the period. Royal Bank of Canada raised its holdings in shares of Par Pacific by 86.3% during the fourth 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 last quarter. Finally, Quadrant Capital Group LLC acquired a new position in Par Pacific during the third quarter valued at $136,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group upped their price target on shares of Par Pacific from $40.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday, June 24th. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and raised their target price for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Finally, Raymond James Financial boosted their price target on Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $70.00.

Par Pacific Stock Up 3.9%

PARR opened at $60.78 on Tuesday. Par Pacific Holdings, Inc. has a fifty-two week low of $26.83 and a fifty-two week high of $70.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. The company has a fifty day moving average of $58.09 and a two-hundred day moving average of $50.80. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 6.78 and a beta of 0.82.

Par Pacific (NYSE:PARR) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the company posted ($0.94) EPS. The company’s revenue was up 4.5% on a year-over-year basis. On average, research analysts expect 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 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.