Farther Finance Advisors LLC Raises Stake in Par Pacific Holdings, Inc. $PARR

Farther Finance Advisors LLC lifted its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 175.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,181 shares of the company’s stock after buying an additional 753 shares during the quarter. Farther Finance Advisors LLC’s holdings in Par Pacific were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Par Pacific by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after buying an additional 296,536 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Par Pacific by 6.2% during the first quarter. Invesco Ltd. now owns 1,157,058 shares of the company’s stock worth $16,500,000 after buying an additional 67,481 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Par Pacific during the first quarter worth about $12,750,000. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Par Pacific by 1.5% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 812,410 shares of the company’s stock worth $11,585,000 after buying an additional 12,170 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Par Pacific by 27.3% during the first quarter. Algert Global LLC now owns 596,473 shares of the company’s stock worth $8,506,000 after buying an additional 127,792 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Par Pacific Stock Down 0.6%

Shares of NYSE:PARR opened at $35.05 on Wednesday. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The company has a fifty day simple moving average of $32.90 and a 200 day simple moving average of $25.54. The firm has a market cap of $1.78 billion, a PE ratio of -125.16 and a beta of 1.74. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $38.60.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. On average, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Ivan Daniel Guerra sold 5,500 shares of Par Pacific stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares in the company, valued at approximately $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of Par Pacific stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total transaction of $180,627.40. Following the completion of the sale, the insider owned 24,679 shares of the company’s stock, valued at approximately $852,659.45. This trade represents a 17.48% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,954 shares of company stock valued at $863,048. 4.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Cowen restated a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Weiss Ratings restated a “hold (c-)” rating on shares of Par Pacific in a report on Saturday, September 27th. Wall Street Zen upgraded shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. TD Cowen lowered their target price on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a report on Thursday, August 7th. Finally, Piper Sandler boosted their target price on shares of Par Pacific from $39.00 to $44.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

About Par Pacific

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.