Engineers Gate Manager LP Raises Stock Holdings in Par Pacific Holdings, Inc. $PARR

Engineers Gate Manager LP raised its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 93.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,477 shares of the company’s stock after buying an additional 53,737 shares during the quarter. Engineers Gate Manager LP owned about 0.22% of Par Pacific worth $6,252,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PARR. Royal Bank of Canada increased its position in shares of Par Pacific by 23.9% during the first quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock valued at $334,000 after acquiring an additional 4,525 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Par Pacific by 118.2% in the 1st quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock valued at $2,344,000 after acquiring an additional 89,023 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Par Pacific by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after acquiring an additional 1,427 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Par Pacific by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock worth $2,085,000 after acquiring an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the period. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PARR. Guggenheim upgraded shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Raymond James Financial upped their price target on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Weiss Ratings raised Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Mizuho boosted their price objective on Par Pacific from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $81.57.

Par Pacific Price Performance

Shares of PARR opened at $84.56 on Friday. Par Pacific Holdings, Inc. has a fifty-two week low of $32.24 and a fifty-two week high of $87.03. The firm’s 50 day moving average price is $76.90 and its 200 day moving average price is $64.11. The company has a market cap of $4.24 billion, a P/E ratio of 4.93 and a beta of 0.77. The company has a quick ratio of 0.76, a current ratio of 1.84 and a debt-to-equity ratio of 0.38.

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 analysts’ consensus estimates of $8.22 by $1.88. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. The firm’s quarterly revenue was up 56.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.

Par Pacific News Roundup

Here are the key news stories impacting Par Pacific this week:

• Positive Sentiment: Refining market remains supportive: Tight refining capacity, low fuel inventories and firm demand are supporting elevated crack spreads and margins. PARR and other refiners have gained more than 50% over the past six months. Oil Prices are High, But These 2 Refining Stocks are Still Crushing It
• Positive Sentiment: Strong operating results and valuation: Par Pacific’s flexible crude slate and diversified refining, retail and logistics platform are viewed as supporting earnings. The company’s latest quarterly EPS of $10.10 exceeded estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion. A reported 3.50x EV/EBITDA multiple is below the industry average. Par Pacific Surges 148% in a Year
• Positive Sentiment: Analyst outlook is broadly favorable: The stock carries an overall “Buy” rating, with most covering analysts recommending Buy or Strong Buy. Recent positive commentary emphasizes the company’s downstream diversification and ability to benefit from constrained industry capacity. Can Par Pacific’s Diversified Downstream Platform Drive Growth?

Insider Activity

In related news, Director Timothy Clossey sold 10,970 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $84.00, for a total transaction of $921,480.00. Following the sale, the director directly owned 51,526 shares in the company, valued at approximately $4,328,184. This represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Monteleone sold 40,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at $37,167,677.10. This trade represents a 8.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 54,248 shares of company stock worth $4,394,057. Corporate insiders own 3.60% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE:PARR) is an energy company engaged in refining, logistics and retail operations. The company processes crude oil into transportation fuels and other refined products, including gasoline, diesel, jet fuel and asphalt, which it sells through wholesale and retail channels.

Par Pacific operates refining and fuel-distribution assets serving markets in Hawaii and the western United States, including the Rocky Mountain region. Its logistics operations include fuel terminals, pipelines, storage facilities and related infrastructure used to transport and distribute crude oil and refined petroleum products.

The company also operates retail fuel stations and convenience stores under various brand names, primarily in Hawaii and other western markets.