25,000 Shares in Par Pacific Holdings, Inc. $PARR Bought by Ninepoint Partners LP

Key Points

• Ninepoint Partners LP acquired 25,000 shares of Par Pacific Holdings in the second quarter, worth approximately $1.4 million. Institutional investors collectively own 92.15% of the company.
• Par Pacific reported strong quarterly results, with EPS of $10.10 versus the $8.22 analyst consensus and revenue of $2.97 billion, up 56.8% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $81.57, although an insider recently sold 3,278 shares.

Ninepoint Partners LP acquired a new position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 25,000 shares of the company's stock, valued at approximately $1,402,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PARR. NewEdge Advisors LLC acquired a new stake in Par Pacific during the first quarter worth about $26,000. EverSource Wealth Advisors LLC boosted its stake in Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company's stock valued at $45,000 after acquiring an additional 173 shares during the period. Aster Capital Management DIFC Ltd boosted its stake in Par Pacific by 34.9% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock valued at $65,000 after acquiring an additional 478 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of Par Pacific by 385.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company's stock valued at $69,000 after purchasing an additional 1,558 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in shares of Par Pacific by 70.4% during the fourth quarter. Federated Hermes Inc. now owns 2,096 shares of the company's stock valued at $74,000 after purchasing an additional 866 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Par Pacific

In other news, insider Danielle Mattiussi sold 3,278 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares in the company, valued at $1,875,910.62. This represents a 10.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 3.60% of the company's stock.

Par Pacific Trading Down 6.4%

Par Pacific stock opened at $72.20 on Friday. Par Pacific Holdings, Inc. has a 12-month low of $27.84 and a 12-month 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. The stock has a market capitalization of $3.62 billion, a PE ratio of 4.21 and a beta of 0.78. The firm has a 50 day simple moving average of $68.63 and a 200-day simple moving average of $59.97.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share for the quarter, topping analysts' consensus estimates of $8.22 by $1.88. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%.The firm'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 posted $1.54 earnings per share. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 21.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Par Pacific from $77.00 to $92.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Mizuho increased their target price on Par Pacific from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Zacks Research cut Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 6th. Raymond James Financial boosted their price target on shares of Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, July 13th. Finally, Guggenheim upgraded shares of Par Pacific to an "outperform" rating in a research report on Wednesday, May 27th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific has a consensus rating of "Moderate Buy" and a consensus target price of $81.57.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source