Charles Schwab Investment Management Inc. Boosts Holdings in Par Pacific Holdings, Inc. $PARR

Charles Schwab Investment Management Inc. lifted its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 32.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,205,756 shares of the company’s stock after purchasing an additional 296,536 shares during the period. Charles Schwab Investment Management Inc. owned 2.22% of Par Pacific worth $17,194,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PARR. Sterling Capital Management LLC lifted its position in shares of Par Pacific by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock worth $28,000 after purchasing an additional 1,528 shares during the period. Signaturefd LLC lifted its position in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after purchasing an additional 986 shares during the period. CWM LLC lifted its position in shares of Par Pacific by 117.5% in the 1st quarter. CWM LLC now owns 7,158 shares of the company’s stock worth $102,000 after purchasing an additional 3,867 shares during the period. GAMMA Investing LLC lifted its position in shares of Par Pacific by 352.7% in the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after purchasing an additional 5,887 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of Par Pacific by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company’s stock worth $117,000 after acquiring an additional 2,884 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Up 3.2%

NYSE:PARR opened at $31.0980 on Friday. The firm has a market cap of $1.58 billion, a P/E ratio of -111.06 and a beta of 1.83. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $35.32. The firm has a 50-day simple moving average of $30.05 and a two-hundred day simple moving average of $21.05.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. Par Pacific’s revenue was down 6.2% compared to the same quarter last year. During the same period last year, the business earned $0.49 EPS. Analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PARR. Wall Street Zen lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. Piper Sandler increased their price target on shares of Par Pacific from $26.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, July 10th. Raymond James Financial set a $38.00 price target on shares of Par Pacific and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Cowen reiterated a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. Finally, Zacks Research upgraded shares of Par Pacific to a “strong-buy” rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.96.

Insider Activity

In other news, SVP Terrill Pitkin sold 5,164 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total transaction 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. This trade represents a 11.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is currently owned by insiders.

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.