VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in Par Pacific Holdings, Inc. (NYSE:PARR – Free Report) by 280.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 53,300 shares of the company’s stock after purchasing an additional 39,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.11% of Par Pacific worth $1,873,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in Par Pacific by 16.2% in the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock worth $66,000 after purchasing an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Par Pacific by 1.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company’s stock worth $596,000 after purchasing an additional 266 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company’s stock worth $94,000 after purchasing an additional 293 shares in the last quarter. GAMMA Investing LLC increased its holdings in Par Pacific by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company’s stock worth $555,000 after purchasing an additional 382 shares in the last quarter. Finally, Amundi increased its holdings in Par Pacific by 3.6% in the third quarter. Amundi now owns 11,013 shares of the company’s stock worth $388,000 after purchasing an additional 386 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.
Par Pacific Trading Down 3.1%
Shares of Par Pacific stock opened at $58.33 on Friday. The stock has a fifty day simple moving average of $60.45 and a 200 day simple moving average of $47.40. Par Pacific Holdings, Inc. has a 12-month low of $19.28 and a 12-month high of $70.39. The company has a market capitalization of $2.92 billion, a P/E ratio of 6.51 and a beta of 0.91. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.
Insider Activity at Par Pacific
In other news, CEO William Monteleone sold 108,948 shares of the company’s stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This represents a 19.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.60% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Raymond James Financial lifted their target price on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. UBS Group raised their price objective on Par Pacific from $40.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Piper Sandler raised their price objective on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. TD Cowen raised their price objective on Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Wall Street Zen cut Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.
View Our Latest Stock Report on Par Pacific
Par Pacific Company 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.
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