Navellier & Associates Inc. Buys 12,379 Shares of Par Pacific Holdings, Inc. $PARR

Navellier & Associates Inc. raised its stake in Par Pacific Holdings, Inc. (NYSE:PARRFree Report) by 201.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,531 shares of the company’s stock after buying an additional 12,379 shares during the period. Navellier & Associates Inc.’s holdings in Par Pacific were worth $1,039,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMG Wealth Partners LLC bought a new position in Par Pacific during the 4th quarter worth approximately $760,000. Pacer Advisors Inc. bought a new stake in Par Pacific in the first quarter valued at approximately $16,277,000. BNP Paribas Financial Markets raised its holdings in Par Pacific by 22.5% in the fourth quarter. BNP Paribas Financial Markets now owns 506,872 shares of the company’s stock worth $17,811,000 after purchasing an additional 93,249 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Par Pacific by 170.6% in 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. Finally, Jackson Creek Investment Advisors LLC raised its holdings in Par Pacific by 325.0% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 51,431 shares of the company’s stock worth $1,807,000 after purchasing an additional 39,329 shares during the period. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

Shares of Par Pacific stock opened at $79.22 on Friday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of 4.62 and a beta of 0.78. The stock’s 50-day moving average is $71.54 and its 200-day moving average is $61.36. Par Pacific Holdings, Inc. has a one year low of $32.24 and a one year high of $87.03. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76.

Par Pacific (NYSE:PARRGet Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping the consensus estimate of $8.22 by $1.88. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.Par Pacific’s revenue for the quarter was up 56.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 earnings per share. Equities analysts predict that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PARR shares. Guggenheim raised shares of Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Benchmark reiterated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. TD Cowen decreased their target price on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Evercore upgraded Par Pacific to an “outperform” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.57.

Read Our Latest Stock Report on PARR

Insider Buying and Selling

In other Par Pacific news, insider Danielle Mattiussi sold 3,278 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total transaction 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. This represents a 10.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.60% of the company’s stock.

About Par Pacific

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Par Pacific (NYSE:PARR)

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