Strs Ohio Purchases 7,400 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Strs Ohio lifted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARRGet Rating) by 20.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,300 shares of the company’s stock after acquiring an additional 7,400 shares during the quarter. Strs Ohio owned approximately 0.07% of Par Pacific worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Versor Investments LP bought a new position in shares of Par Pacific during the third quarter worth about $484,000. Texas Permanent School Fund raised its position in shares of Par Pacific by 21.3% during the third quarter. Texas Permanent School Fund now owns 38,879 shares of the company’s stock worth $638,000 after acquiring an additional 6,822 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of Par Pacific during the third quarter worth about $470,000. State of Alaska Department of Revenue raised its position in shares of Par Pacific by 10.9% during the third quarter. State of Alaska Department of Revenue now owns 38,307 shares of the company’s stock worth $628,000 after acquiring an additional 3,768 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Par Pacific during the third quarter worth approximately $435,000. 92.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on PARR. JPMorgan Chase & Co. raised their target price on Par Pacific from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 18th. Cowen raised their target price on Par Pacific from $21.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, October 24th. Cowen raised their target price on Par Pacific from $21.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, October 24th. Piper Sandler decreased their target price on Par Pacific from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, December 19th. Finally, StockNews.com raised Par Pacific from a “hold” rating to a “buy” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Par Pacific Trading Up 2.9 %

Shares of Par Pacific stock opened at $23.57 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.48 and a current ratio of 1.01. Par Pacific Holdings, Inc. has a 52 week low of $11.66 and a 52 week high of $25.38. The stock has a 50 day moving average price of $22.47 and a two-hundred day moving average price of $19.58. The stock has a market capitalization of $1.42 billion, a PE ratio of 4.91 and a beta of 2.01.

Par Pacific (NYSE:PARRGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.04 by $0.84. Par Pacific had a return on equity of 106.74% and a net margin of 4.22%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $1.74 billion. As a group, equities analysts anticipate that Par Pacific Holdings, Inc. will post 7.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Par Pacific news, General Counsel Jeffrey Ryan Hollis sold 2,158 shares of Par Pacific stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $23.37, for a total transaction of $50,432.46. Following the transaction, the general counsel now directly owns 10,736 shares of the company’s stock, valued at approximately $250,900.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, General Counsel Jeffrey Ryan Hollis sold 2,158 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $23.37, for a total value of $50,432.46. Following the completion of the sale, the general counsel now owns 10,736 shares in the company, valued at $250,900.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director L Melvin Cooper sold 2,000 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $22.59, for a total transaction of $45,180.00. Following the completion of the sale, the director now owns 40,858 shares of the company’s stock, valued at approximately $922,982.22. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

About Par Pacific

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Par Pacific Holdings, Inc engages in the operation of energy and infrastructure businesses. It operates through the following segments: Refining, Retail, Logistics, and Other. The Refining segment produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, low sulfur fuel oil, and other associated refined products.

See Also

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Institutional Ownership by Quarter for Par Pacific (NYSE:PARR)

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