Public Employees Retirement System of Ohio Boosts Stake in Par Pacific Holdings, Inc. $PARR

Public Employees Retirement System of Ohio boosted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 17.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,882 shares of the company’s stock after acquiring an additional 428 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Par Pacific were worth $76,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PARR. GAMMA Investing LLC boosted its holdings in shares of Par Pacific by 6,355.9% in the first quarter. GAMMA Investing LLC now owns 107,749 shares of the company’s stock valued at $1,537,000 after purchasing an additional 106,080 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Par Pacific in the first quarter valued at approximately $219,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Par Pacific by 2.8% in the first quarter. Harbor Capital Advisors Inc. now owns 515,379 shares of the company’s stock valued at $7,349,000 after purchasing an additional 14,039 shares during the period. SummerHaven Investment Management LLC boosted its holdings in shares of Par Pacific by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company’s stock valued at $471,000 after purchasing an additional 860 shares during the period. Finally, Envestnet Portfolio Solutions Inc. purchased a new stake in Par Pacific during the first quarter worth $194,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PARR. Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Monday, September 22nd. 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. Raymond James Financial upped their target price on Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a report on Tuesday, September 9th. Finally, Mizuho upped their target price on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and an average price target of $33.86.

Par Pacific Stock Performance

Shares of PARR stock opened at $35.05 on Wednesday. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -125.16 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The business has a fifty day moving average of $32.90 and a 200 day moving average of $25.54. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $38.60.

Par Pacific (NYSE:PARR) last issued its 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 company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The firm’s quarterly revenue was down 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. As a group, research analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Activity at Par Pacific

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

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.