Algert Global LLC Has $8.51 Million Stock Position in Par Pacific Holdings, Inc. $PARR

Key Points

• Algert Global LLC increased its stake in Par Pacific Holdings by 27.3% in Q1 2023, owning 596,473 shares worth approximately $8.51 million at the end of the period.
• Par Pacific reported a $1.54 EPS for the last quarter, significantly exceeding analysts' estimates, but its revenue declined by 6.2% year-over-year.
• Research analysts generally have a "Moderate Buy" consensus rating for Par Pacific, with an average target price of $28.96.

Algert Global LLC lifted its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 596,473 shares of the company's stock after purchasing an additional 127,792 shares during the period. Algert Global LLC owned 1.10% of Par Pacific worth $8,506,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PARR. Nuveen LLC acquired a new stake in shares of Par Pacific in the first quarter worth $12,750,000. Solas Capital Management LLC boosted its holdings in Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock valued at $13,030,000 after acquiring an additional 641,423 shares during the period. Millennium Management LLC grew its position in shares of Par Pacific by 43.4% in the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after purchasing an additional 586,003 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Par Pacific by 32.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock worth $17,194,000 after purchasing an additional 296,536 shares during the period. Finally, Barclays PLC increased its stake in shares of Par Pacific by 53.0% in the fourth quarter. Barclays PLC now owns 718,688 shares of the company's stock worth $11,779,000 after purchasing an additional 249,048 shares during the period. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $29.02 on Monday. The firm has a market cap of $1.47 billion, a P/E ratio of -103.64 and a beta of 1.83. The firm's 50-day simple moving average is $29.31 and its 200-day simple moving average is $20.63. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.32. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The firm had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the company earned $0.49 earnings per share. The company's revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity at Par Pacific

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the completion of the transaction, the senior vice president directly owned 41,223 shares of the company's stock, valued at approximately $1,153,007.31. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PARR. Wall Street Zen lowered Par Pacific from a "strong-buy" rating to a "buy" rating in a report on Sunday. Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a research report on Friday, July 11th. The Goldman Sachs Group downgraded shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research note on Wednesday, May 28th. Raymond James Financial set a $38.00 target price on shares of Par Pacific and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Zacks Research raised shares of Par Pacific to a "strong-buy" rating in a report on Monday, August 11th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of "Moderate Buy" and an average target price of $28.96.

Par Pacific Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.

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