Entropy Technologies LP Takes Position in Par Pacific Holdings, Inc. $PARR

Entropy Technologies LP acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARRFree Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 9,789 shares of the company’s stock, valued at approximately $613,000.

A number of other large investors have also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership increased its position in Par Pacific by 0.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,771,793 shares of the company’s stock worth $110,985,000 after buying an additional 6,162 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Par Pacific by 395.9% in the first quarter. First Trust Advisors LP now owns 133,073 shares of the company’s stock worth $8,336,000 after buying an additional 106,238 shares during the last quarter. Summit Global Investments acquired a new stake in shares of Par Pacific in the first quarter worth about $258,000. Bessemer Group Inc. boosted its stake in shares of Par Pacific by 53.3% during the 1st quarter. Bessemer Group Inc. now owns 123,303 shares of the company’s stock worth $7,724,000 after acquiring an additional 42,869 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Par Pacific by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,321 shares of the company’s stock worth $1,808,000 after acquiring an additional 3,022 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Up 5.0%

PARR stock opened at $83.04 on Thursday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 9.27 and a beta of 0.82. The company has a 50-day moving average of $61.95 and a two-hundred day moving average of $55.36. Par Pacific Holdings, Inc. has a 52-week low of $26.83 and a 52-week high of $83.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60.

Par Pacific (NYSE:PARRGet Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.94) earnings per share. As a group, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 18.6 EPS for the current year.

Wall Street Analyst Weigh In

PARR has been the topic of a number of analyst reports. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 17th. Mizuho boosted their target price on Par Pacific from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, July 9th. Raymond James Financial upped their target price on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, July 13th. TD Cowen increased their price target on Par Pacific from $78.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Piper Sandler lifted their price target on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $81.57.

View Our Latest Stock Analysis on Par Pacific

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

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

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