Bessemer Group Inc. Has $7.72 Million Stock Holdings in Par Pacific Holdings, Inc. $PARR

Key Points

• Bessemer Group Inc. boosted its stake in Par Pacific Holdings by 53.3% in the first quarter, bringing its holdings to 123,303 shares worth about $7.72 million.
• Par Pacific shares recently traded near $76.29, close to their 52-week high of $77.21, with the company valued at about $3.83 billion.
• Analysts remain upbeat on PARR after mixed quarterly results: the company beat revenue estimates but missed EPS expectations, and the stock carries a Moderate Buy consensus with an average price target of $72.

Bessemer Group Inc. increased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 53.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,303 shares of the company's stock after acquiring an additional 42,869 shares during the period. Bessemer Group Inc. owned about 0.25% of Par Pacific worth $7,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in Par Pacific by 81.1% in the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock valued at $62,000 after purchasing an additional 1,048 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in shares of Par Pacific by 34.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock valued at $65,000 after buying an additional 478 shares during the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Par Pacific by 385.6% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company's stock valued at $69,000 after buying an additional 1,558 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company's stock valued at $74,000 after buying an additional 866 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Par Pacific by 86.3% in the 4th quarter. Royal Bank of Canada now owns 3,697 shares of the company's stock valued at $130,000 after buying an additional 1,713 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $76.29 on Monday. The business's 50-day simple moving average is $59.03 and its 200-day simple moving average is $52.93. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62. Par Pacific Holdings, Inc. has a 52 week low of $26.83 and a 52 week high of $77.21. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 8.51 and a beta of 0.82.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $1.00 by ($0.22). Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm posted ($0.94) earnings per share. The firm's revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 17.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on PARR shares. The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Raymond James Financial lifted their target price on shares of Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Piper Sandler boosted their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. Evercore upgraded shares of Par Pacific to an "outperform" rating in a research note on Wednesday, May 27th. Finally, JPMorgan Chase & Co. raised their price target on shares of Par Pacific from $48.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $72.00.

About Par Pacific

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.

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