Islay Capital Management LLC bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,191 shares of the company’s stock, valued at approximately $639,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its stake in shares of Par Pacific by 23.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 565,772 shares of the company’s stock valued at $20,040,000 after acquiring an additional 106,131 shares during the period. Wakefield Asset Management LLLP purchased a new stake in shares of Par Pacific in the 3rd quarter valued at approximately $1,330,000. LMG Wealth Partners LLC purchased a new stake in shares of Par Pacific in the 4th quarter valued at approximately $760,000. Massachusetts Financial Services Co. MA raised its stake in shares of Par Pacific by 105.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 65,235 shares of the company’s stock valued at $2,292,000 after acquiring an additional 33,537 shares during the period. Finally, Barclays PLC raised its stake in shares of Par Pacific by 24.9% in the 3rd quarter. Barclays PLC now owns 705,832 shares of the company’s stock valued at $25,001,000 after acquiring an additional 140,514 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.
Par Pacific Stock Performance
Shares of PARR stock opened at $53.52 on Tuesday. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 52 week low of $24.25 and a 52 week high of $70.39. The stock has a market capitalization of $2.68 billion, a PE ratio of 5.97 and a beta of 0.84. The firm has a 50 day moving average of $60.54 and a two-hundred day moving average of $49.64.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on PARR shares. Guggenheim raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Mizuho raised shares of Par Pacific from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $58.00 to $79.00 in a research note on Wednesday, May 27th. Raymond James Financial boosted their price target on shares of Par Pacific from $50.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, March 25th. Evercore raised shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. Finally, TD Cowen boosted their price target on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.
Check Out Our Latest Research Report on Par Pacific
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.
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