39,715 Shares in Par Pacific Holdings, Inc. $PARR Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management acquired 39,715 shares of Par Pacific Holdings valued at approximately $3.24 million, while institutional investors and hedge funds collectively own 92.15% of the company.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $87.29, although Goldman Sachs downgraded the stock to “neutral.”
• Par Pacific reported quarterly EPS of $10.10, beating estimates by $1.88, while revenue rose 56.8% year over year to $2.97 billion; shares recently traded near $84.88, close to their 12-month high.

Assenagon Asset Management S.A. bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 39,715 shares of the company's stock, valued at approximately $3,242,000. Assenagon Asset Management S.A. owned 0.08% of Par Pacific at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings 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 purchasing an additional 173 shares during the period. GAMMA Investing LLC raised its position in shares of Par Pacific by 1.7% during the 3rd quarter. GAMMA Investing LLC now owns 15,254 shares of the company's stock worth $1,245,000 after purchasing an additional 255 shares during the last quarter. Birchbrook Inc. raised its position in shares of Par Pacific by 12.8% during the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company's stock worth $190,000 after purchasing an additional 385 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in Par Pacific during the 1st quarter worth approximately $26,000. Finally, Pictet Asset Management Holding SA increased its stake in Par Pacific by 6.4% during the 1st quarter. Pictet Asset Management Holding SA now owns 7,598 shares of the company's stock worth $476,000 after buying an additional 455 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on PARR. Weiss Ratings raised Par Pacific from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Raymond James Financial reaffirmed an "outperform" rating and issued a $117.00 price target on shares of Par Pacific in a research note on Monday. The Goldman Sachs Group lowered Par Pacific from a "buy" rating to a "neutral" rating and raised their price objective for the company from $90.00 to $94.00 in a report on Thursday, October 15th. Benchmark reissued a "buy" rating on shares of Par Pacific in a research note on Wednesday, July 8th. Finally, TD Cowen lowered their price target on shares of Par Pacific from $100.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $87.29.

Insider Transactions at Par Pacific

In other news, Director Timothy Clossey sold 10,970 shares of the company's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $84.00, for a total transaction of $921,480.00. Following the sale, the director owned 51,526 shares of the company's stock, valued at approximately $4,328,184. This represents a 17.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Danielle Mattiussi sold 3,278 shares of the stock in a transaction on Friday, August 7th. The shares were 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 approximately $1,875,910.62. The trade was a 10.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 54,248 shares of company stock valued at $4,394,057. 3.60% of the stock is currently owned by company insiders.

Par Pacific Trading Down 0.3%

Shares of NYSE PARR opened at $84.88 on Thursday. Par Pacific Holdings, Inc. has a twelve month low of $34.37 and a twelve month high of $90.74. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $81.72 and a 200-day simple moving average of $70.14. The stock has a market capitalization of $4.25 billion, a PE ratio of 4.95 and a beta of 0.75.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.22 by $1.88. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates 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 was up 56.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 EPS. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 27.18 earnings per share for the current year.

Par Pacific Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.

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