Punch & Associates Investment Management Inc. Reduces Stock Holdings in Par Pacific Holdings, Inc. $PARR

Punch & Associates Investment Management Inc. lowered its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 18.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 581,355 shares of the company’s stock after selling 132,075 shares during the quarter. Par Pacific comprises about 1.2% of Punch & Associates Investment Management Inc.’s holdings, making the stock its 23rd biggest holding. Punch & Associates Investment Management Inc. owned approximately 1.16% of Par Pacific worth $20,429,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Par Pacific in the third quarter valued at about $48,000. Federated Hermes Inc. grew its holdings in shares of Par Pacific by 70.4% in the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company’s stock valued at $74,000 after purchasing an additional 866 shares during the period. Smartleaf Asset Management LLC lifted 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 valued at $62,000 after buying an additional 1,048 shares during the last quarter. Royal Bank of Canada lifted its position in Par Pacific by 86.3% in the fourth quarter. Royal Bank of Canada now owns 3,697 shares of the company’s stock valued at $130,000 after buying an additional 1,713 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new position in Par Pacific in the third quarter valued at about $136,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PARR. Mizuho raised shares of Par Pacific from a “neutral” rating to an “outperform” rating and upped their target price for the company from $58.00 to $79.00 in a research report on Wednesday, May 27th. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Zacks Research cut shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. Evercore raised shares of Par Pacific to an “outperform” rating in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. upped their target price on shares of Par Pacific from $48.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.00.

Par Pacific Stock Down 1.9%

Shares of PARR opened at $52.44 on Wednesday. The stock has a market capitalization of $2.63 billion, a PE ratio of 5.85 and a beta of 0.83. Par Pacific Holdings, Inc. has a 1 year low of $25.81 and a 1 year high of $70.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. The company’s 50-day simple moving average is $60.29 and its 200-day simple moving average is $49.70.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.94) EPS. Analysts forecast that Par Pacific Holdings, Inc. will post 15.6 earnings per share for the current fiscal 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.