Ameriprise Financial Inc. Purchases 64,536 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Ameriprise Financial Inc. increased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 35.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 248,972 shares of the company’s stock after buying an additional 64,536 shares during the period. Ameriprise Financial Inc. owned 0.44% of Par Pacific worth $4,081,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Sterling Capital Management LLC raised its stake in Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after purchasing an additional 1,528 shares during the last quarter. US Bancorp DE boosted its holdings in Par Pacific by 55.7% in the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after purchasing an additional 652 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the period. Quadrant Capital Group LLC boosted its holdings in Par Pacific by 123.1% in the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company’s stock valued at $53,000 after purchasing an additional 1,784 shares during the period. Finally, Allworth Financial LP boosted its holdings in Par Pacific by 4,804.2% in the 4th quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock valued at $139,000 after purchasing an additional 7,975 shares during the period. 92.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PARR. Mizuho increased their price target on shares of Par Pacific from $18.00 to $21.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a report on Friday, February 28th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and increased their price target for the company from $18.00 to $19.00 in a report on Thursday, March 27th. UBS Group reduced their price target on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler increased their price objective on shares of Par Pacific from $21.00 to $26.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.25.

Par Pacific Trading Up 2.0%

Shares of Par Pacific stock opened at $21.95 on Monday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 4.25 and a beta of 1.50. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. The company has a 50-day simple moving average of $15.41 and a 200 day simple moving average of $15.96. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $27.82.

Par Pacific (NYSE:PARR) last announced its earnings results on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.54). The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 EPS. Research analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share 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.