Maryland State Retirement & Pension System Has $233,000 Holdings in Par Pacific Holdings, Inc. $PARR

Maryland State Retirement & Pension System trimmed its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 14.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,316 shares of the company’s stock after selling 2,706 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Par Pacific were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Solas Capital Management LLC lifted its stake in Par Pacific by 417.7% in the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock valued at $13,030,000 after acquiring an additional 641,423 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after purchasing an additional 586,003 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock valued at $17,194,000 after purchasing an additional 296,536 shares during the last quarter. Barclays PLC boosted its holdings in Par Pacific by 53.0% in the fourth quarter. Barclays PLC now owns 718,688 shares of the company’s stock worth $11,779,000 after purchasing an additional 249,048 shares in the last quarter. Finally, Algert Global LLC increased its position in Par Pacific by 54.2% during the fourth quarter. Algert Global LLC now owns 468,681 shares of the company’s stock worth $7,682,000 after buying an additional 164,711 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Insider Buying and Selling at Par Pacific

In related news, SVP Terrill Pitkin sold 5,164 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the sale, the senior vice president owned 41,223 shares of the company’s stock, valued at $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 4.40% of the company’s stock.

Analysts Set New Price Targets

PARR has been the subject of a number of analyst reports. Wall Street Zen cut Par Pacific from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Cowen reissued a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. TD Cowen reduced their target price on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Piper Sandler increased their price target on Par Pacific from $26.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group lowered shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.96.

Par Pacific Price Performance

Shares of PARR stock opened at $30.1180 on Wednesday. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $35.32. The company has a market capitalization of $1.53 billion, a P/E ratio of -107.56 and a beta of 1.83. The stock has a 50 day moving average of $29.64 and a two-hundred day moving average of $20.79. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the company posted $0.49 earnings per share. Par Pacific’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current 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.