Par Pacific Holdings, Inc. $PARR Shares Newly Purchased by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 32,158 shares of the company’s stock, valued at approximately $2,625,000. Par Pacific accounts for about 1.8% of SummerHaven Investment Management LLC’s holdings, making the stock its 7th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of PARR. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Par Pacific in the second quarter valued at approximately $3,017,000. The Manufacturers Life Insurance Company increased its stake in shares of Par Pacific by 170.6% during the first quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company’s stock worth $3,916,000 after purchasing an additional 39,404 shares during the period. Pacer Advisors Inc. acquired a new stake in Par Pacific during the 1st quarter worth approximately $16,277,000. Engineers Gate Manager LP lifted its holdings in Par Pacific by 93.1% during the 2nd quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock worth $6,252,000 after purchasing an additional 53,737 shares during the last quarter. Finally, Encompass Capital Advisors LLC acquired a new stake in Par Pacific during the 1st quarter worth approximately $28,839,000. Institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

PARR has been the subject of several recent research reports. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 4th. TD Cowen decreased their price objective on Par Pacific from $100.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Benchmark reiterated a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. The Goldman Sachs Group cut Par Pacific from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $90.00 to $94.00 in a research report on Thursday. Finally, UBS Group reissued a “neutral” rating on shares of Par Pacific in a report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.43.

Par Pacific Stock Performance

NYSE:PARR opened at $83.69 on Friday. The stock has a fifty day moving average price of $81.16 and a 200-day moving average price of $69.65. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 4.88 and a beta of 0.75. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.76 and a current ratio of 1.84. Par Pacific Holdings, Inc. has a fifty-two week low of $34.37 and a fifty-two week high of $90.74.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.22 by $1.88. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the firm posted $1.54 EPS. Par Pacific’s quarterly revenue was up 56.8% on a year-over-year basis. As a group, equities analysts anticipate that Par Pacific Holdings, Inc. will post 26.56 EPS for the current fiscal year.

Insider Activity at Par Pacific

In related news, insider Danielle Mattiussi sold 3,278 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the transaction, the insider owned 27,878 shares of the company’s stock, valued at $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William Monteleone sold 40,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the sale, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at $37,167,677.10. This represents a 8.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 54,248 shares of company stock valued at $4,394,057 over the last quarter. 3.60% of the stock is owned by corporate insiders.

Par Pacific Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Through its refining operations, the company produces gasoline, diesel, jet fuel, asphalt and other refined products for commercial, industrial and retail customers.

Par Pacific operates refineries and related energy infrastructure in the western United States, with a significant presence in Hawaii and additional refining and logistics operations in the Pacific Northwest and Rocky Mountain regions.