Texas Permanent School Fund Corp lifted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR – Free Report) by 3.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 49,444 shares of the company’s stock after buying an additional 1,815 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Par Pacific were worth $1,315,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. American International Group Inc. lifted its stake in shares of Par Pacific by 9.7% during the 2nd quarter. American International Group Inc. now owns 29,738 shares of the company’s stock worth $791,000 after buying an additional 2,624 shares during the last quarter. Barclays PLC raised its stake in Par Pacific by 984.3% in the 2nd quarter. Barclays PLC now owns 271,551 shares of the company’s stock worth $7,226,000 after purchasing an additional 246,508 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Par Pacific in the 2nd quarter worth about $347,000. Mackenzie Financial Corp acquired a new stake in Par Pacific in the 2nd quarter worth about $249,000. Finally, Bank of Montreal Can acquired a new stake in Par Pacific in the 2nd quarter worth about $383,000. Institutional investors and hedge funds own 92.83% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Par Pacific from $36.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. StockNews.com assumed coverage on shares of Par Pacific in a research note on Thursday, October 5th. They issued a “hold” rating for the company. UBS Group dropped their price objective on shares of Par Pacific from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Monday, November 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of Par Pacific from $31.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and an average target price of $36.00.
Par Pacific Price Performance
PARR stock opened at $33.83 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.12 and a debt-to-equity ratio of 0.50. Par Pacific Holdings, Inc. has a 12 month low of $19.39 and a 12 month high of $37.50. The firm has a market cap of $2.05 billion, a P/E ratio of 3.94 and a beta of 2.04. The company’s 50-day moving average price is $33.49 and its two-hundred day moving average price is $29.80.
Par Pacific Company Profile
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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