Punch & Associates Investment Management Inc. Has $23.63 Million Position in Par Pacific Holdings, Inc. $PARR

Punch & Associates Investment Management Inc. lessened its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 35.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 377,208 shares of the company’s stock after selling 204,147 shares during the quarter. Par Pacific accounts for approximately 1.4% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 21st biggest holding. Punch & Associates Investment Management Inc.’s holdings in Par Pacific were worth $23,628,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd boosted its position in shares of Par Pacific by 34.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company’s stock valued at $65,000 after acquiring an additional 478 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in Par Pacific by 385.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company’s stock worth $69,000 after purchasing an additional 1,558 shares in the last quarter. Federated Hermes Inc. raised its position in Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock worth $74,000 after purchasing an additional 866 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in Par Pacific during the first quarter worth about $205,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. TD Cowen lifted their price objective on Par Pacific from $78.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James Financial lifted their price target on shares of Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Guggenheim raised Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Finally, The Goldman Sachs Group raised their target price on Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.57.

Par Pacific Price Performance

PARR opened at $77.35 on Friday. The company has a fifty day moving average price of $60.76 and a two-hundred day moving average price of $54.32. The firm has a market capitalization of $3.88 billion, a PE ratio of 8.63 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. Par Pacific Holdings, Inc. has a 52 week low of $26.83 and a 52 week high of $82.29.

Par Pacific (NYSE:PARR) last issued its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.Par Pacific’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.94) EPS. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 18.6 earnings per share for the current year.

Par Pacific Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.