Louisiana State Employees Retirement System Makes New Investment in Par Pacific Holdings, Inc. $PARR

Louisiana State Employees Retirement System acquired a new position in Par Pacific Holdings, Inc. (NYSE:PARR) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,300 shares of the company’s stock, valued at approximately $1,397,000.

A number of other large investors have also recently made changes to their positions in the stock. LMG Wealth Partners LLC increased its holdings in Par Pacific by 24.3% in the 1st quarter. LMG Wealth Partners LLC now owns 26,866 shares of the company’s stock worth $1,683,000 after acquiring an additional 5,244 shares in the last quarter. Diversified Trust Co lifted its holdings in Par Pacific by 12.6% during the first quarter. Diversified Trust Co now owns 13,936 shares of the company’s stock valued at $873,000 after purchasing an additional 1,562 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock valued at $69,000 after purchasing an additional 1,558 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in shares of Par Pacific in the fourth quarter worth $345,000. Finally, Hsbc Holdings PLC increased its stake in shares of Par Pacific by 3.3% in the fourth quarter. Hsbc Holdings PLC now owns 49,096 shares of the company’s stock worth $1,729,000 after purchasing an additional 1,578 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

NYSE PARR opened at $58.56 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. Par Pacific Holdings, Inc. has a 1-year low of $26.83 and a 1-year high of $70.39. The business has a 50 day simple moving average of $58.27 and a two-hundred day simple moving average of $50.52. The stock has a market capitalization of $2.94 billion, a PE ratio of 6.54 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 (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the company earned ($0.94) earnings per share. On average, research analysts predict that Par Pacific Holdings, Inc. will post 16.31 EPS for the current fiscal year.

Analyst Ratings Changes

PARR has been the subject of several recent analyst reports. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and upped their target price for the stock from $53.00 to $77.00 in a report on Friday, April 10th. JPMorgan Chase & Co. raised their price target on Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Piper Sandler upped their price objective on Par Pacific from $63.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research report on Wednesday, June 24th. Finally, UBS Group increased their target price on Par Pacific from $40.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.