Bessemer Group Inc. Has $7.72 Million Stake in Par Pacific Holdings, Inc. $PARR

Bessemer Group Inc. raised its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 53.3% in the first quarter, Holdings Channel reports. The fund owned 123,303 shares of the company’s stock after buying an additional 42,869 shares during the quarter. Bessemer Group Inc.’s holdings in Par Pacific were worth $7,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Par Pacific by 7,787.1% during the 4th quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock worth $19,816,000 after purchasing an additional 556,780 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Par Pacific by 810.8% in the 4th quarter. Wells Fargo & Company MN now owns 359,834 shares of the company’s stock valued at $12,645,000 after buying an additional 320,326 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after buying an additional 317,484 shares during the last quarter. Bridgeway Capital Management LLC bought a new position in Par Pacific in the 4th quarter worth approximately $9,576,000. Finally, Goldman Sachs Group Inc. increased its position in Par Pacific by 36.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company’s stock worth $33,302,000 after buying an additional 255,173 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PARR has been the subject of several research reports. Evercore raised Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. Raymond James Financial upped their target price on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Benchmark reissued a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Par Pacific from $48.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Par Pacific presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Par Pacific Trading Up 0.1%

Par Pacific stock opened at $76.29 on Monday. The business has a 50 day moving average price of $59.03 and a two-hundred day moving average price of $52.93. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of 8.51 and a beta of 0.82. Par Pacific Holdings, Inc. has a 12 month low of $26.83 and a 12 month high of $77.21.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 34.38% and a net margin of 6.02%.Par Pacific’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.94) EPS. As a group, equities analysts forecast that Par Pacific Holdings, Inc. will post 17.85 EPS for the current year.

About Par Pacific

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.