Mackenzie Financial Corp Raises Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Mackenzie Financial Corp grew its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,270 shares of the company’s stock after acquiring an additional 317 shares during the period. Mackenzie Financial Corp’s holdings in Par Pacific were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. bought a new stake in Par Pacific during the 4th quarter valued at approximately $30,000. Quantbot Technologies LP bought a new stake in shares of Par Pacific during the third quarter valued at approximately $40,000. CIBC Asset Management Inc purchased a new position in shares of Par Pacific in the third quarter worth $214,000. AlphaMark Advisors LLC bought a new position in shares of Par Pacific during the fourth quarter worth $271,000. Finally, MQS Management LLC purchased a new position in Par Pacific during the third quarter valued at $297,000. Institutional investors own 92.15% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler increased their price objective on shares of Par Pacific from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and an average target price of $36.75.

Insider Buying and Selling at Par Pacific

In other news, insider Jeffrey Ryan Hollis sold 4,700 shares of Par Pacific stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total value of $175,733.00. Following the completion of the transaction, the insider now owns 13,176 shares in the company, valued at approximately $492,650.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Ivan Daniel Guerra sold 6,000 shares of Par Pacific stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,200 shares of the company’s stock, valued at approximately $607,338. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jeffrey Ryan Hollis sold 4,700 shares of the stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $175,733.00. Following the completion of the sale, the insider now directly owns 13,176 shares in the company, valued at $492,650.64. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Par Pacific Price Performance

Par Pacific stock opened at $32.41 on Friday. Par Pacific Holdings, Inc. has a 52-week low of $20.30 and a 52-week high of $40.69. The company has a quick ratio of 0.54, a current ratio of 1.30 and a debt-to-equity ratio of 0.49. The firm’s fifty day moving average is $36.34 and its 200 day moving average is $35.26. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 2.71 and a beta of 1.95.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, February 27th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). Par Pacific had a return on equity of 47.63% and a net margin of 8.85%. The business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.45 billion. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Par Pacific Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.