Assenagon Asset Management S.A. Raises Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Assenagon Asset Management S.A. boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARR – Get Rating) by 54.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,640 shares of the company’s stock after buying an additional 69,980 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.33% of Par Pacific worth $3,259,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Yousif Capital Management LLC purchased a new position in Par Pacific in the 4th quarter worth approximately $679,000. Allspring Global Investments Holdings LLC purchased a new position in Par Pacific in the 4th quarter worth approximately $165,000. Bank of New York Mellon Corp lifted its stake in Par Pacific by 5.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 396,714 shares of the company’s stock worth $6,236,000 after purchasing an additional 21,281 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in Par Pacific by 183.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 44,025 shares of the company’s stock worth $692,000 after purchasing an additional 28,516 shares in the last quarter. Finally, Oaktree Capital Management LP lifted its stake in Par Pacific by 70.0% in the 3rd quarter. Oaktree Capital Management LP now owns 2,210,000 shares of the company’s stock worth $34,741,000 after purchasing an additional 910,000 shares in the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

In related news, major shareholder Chai Trust Co Llc sold 25,004 shares of Par Pacific stock in a transaction that occurred on Wednesday, April 6th. The shares were sold at an average price of $13.35, for a total value of $333,803.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 693,539 shares of company stock valued at $9,985,052 in the last quarter. 4.90% of the stock is owned by insiders.

Shares of NYSE PARR opened at $14.21 on Monday. The company has a 50 day simple moving average of $13.40 and a 200-day simple moving average of $14.59. The company has a market capitalization of $854.85 million, a P/E ratio of -9.60 and a beta of 2.54. The company has a debt-to-equity ratio of 2.11, a current ratio of 0.83 and a quick ratio of 0.25. Par Pacific Holdings, Inc. has a 1 year low of $11.66 and a 1 year high of $18.05.

Par Pacific (NYSE:PARR – Get Rating) last posted its earnings results on Wednesday, February 23rd. The company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.13). Par Pacific had a negative net margin of 1.73% and a negative return on equity of 41.56%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the business posted ($1.41) EPS. As a group, research analysts expect that Par Pacific Holdings, Inc. will post 0.28 EPS for the current year.

PARR has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on shares of Par Pacific in a report on Thursday, March 31st. They set a “sell” rating for the company. Zacks Investment Research upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a report on Wednesday, March 16th.

Par Pacific Company Profile (Get Rating)

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.

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