Ethic Inc. Buys 396 Shares of Par Pacific Holdings, Inc. $PARR

Ethic Inc. lifted its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,801 shares of the company’s stock after buying an additional 396 shares during the quarter. Ethic Inc.’s holdings in Par Pacific were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nuveen LLC purchased a new stake in Par Pacific during the 1st quarter valued at about $12,750,000. Walleye Capital LLC raised its stake in Par Pacific by 365.4% during the 1st quarter. Walleye Capital LLC now owns 424,549 shares of the company’s stock worth $6,054,000 after acquiring an additional 333,319 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Par Pacific by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company’s stock worth $17,194,000 after acquiring an additional 296,536 shares during the period. Jump Financial LLC purchased a new stake in Par Pacific during the 1st quarter valued at approximately $3,289,000. Finally, Jane Street Group LLC grew its holdings in Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock valued at $3,862,000 after buying an additional 211,002 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Price Performance

Shares of PARR stock opened at $39.64 on Wednesday. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $41.63. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -141.56 and a beta of 1.74. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The stock’s 50-day simple moving average is $35.20 and its 200-day simple moving average is $28.02.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PARR. Mizuho raised their target price on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Raymond James Financial restated an “outperform” rating and issued a $45.00 price target (up from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Par Pacific in a research report on Wednesday, October 8th. Cowen reiterated a “buy” rating on shares of Par Pacific in a research report on Thursday, August 7th. Finally, The Goldman Sachs Group raised their price target on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Par Pacific currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.86.

Insider Activity

In related news, insider Shawn David Flores sold 8,062 shares of Par Pacific stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total transaction of $278,139.00. Following the completion of the sale, the insider owned 39,089 shares of the company’s stock, valued at $1,348,570.50. The trade was a 17.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of Par Pacific 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 of the company’s stock, valued at $852,659.45. This trade represents a 17.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 25,954 shares of company stock valued at $863,048. 4.40% of the stock is owned by insiders.

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.