BNP Paribas Financial Markets Buys 93,249 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• BNP Paribas Financial Markets increased its Par Pacific stake by 22.5% in the fourth quarter, buying 93,249 additional shares and bringing its holdings to 506,872 shares worth about $17.8 million.
• Several institutional investors also boosted their positions, with Vanguard, Dimensional Fund Advisors, Arrowstreet, American Century, and Geode all reporting larger stakes; institutions now own 92.15% of Par Pacific.
• Analysts turned more bullish on Par Pacific, with multiple upgrades and a consensus “Moderate Buy” rating, while the company recently reported earnings of $0.78 per share, below estimates, despite revenue topping expectations.

BNP Paribas Financial Markets lifted its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 22.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 506,872 shares of the company's stock after buying an additional 93,249 shares during the quarter. BNP Paribas Financial Markets owned about 1.01% of Par Pacific worth $17,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Par Pacific by 30.9% during the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company's stock valued at $178,680,000 after purchasing an additional 1,190,088 shares during the period. Dimensional Fund Advisors LP increased its stake in Par Pacific by 6.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company's stock worth $62,601,000 after acquiring an additional 109,705 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company's stock worth $62,203,000 after acquiring an additional 317,484 shares during the last quarter. American Century Companies Inc. increased its stake in Par Pacific by 42.8% in the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company's stock worth $53,923,000 after acquiring an additional 456,473 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Par Pacific by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company's stock worth $42,954,000 after acquiring an additional 21,254 shares during the last quarter. Institutional investors own 92.15% of the company's stock.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the company's stock in a transaction on Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.60% of the company's stock.

Analyst Ratings Changes

PARR has been the topic of a number of research reports. Wall Street Zen raised Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Evercore upgraded Par Pacific to an "outperform" rating in a report on Wednesday, May 27th. Raymond James Financial lifted their target price on Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. Mizuho upgraded Par Pacific from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $58.00 to $79.00 in a report on Wednesday, May 27th. Finally, Guggenheim upgraded Par Pacific to an "outperform" rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific presently has an average rating of "Moderate Buy" and a consensus target price of $70.00.

Par Pacific Price Performance

PARR opened at $55.62 on Friday. The business has a fifty day moving average of $61.49 and a 200 day moving average of $49.14. Par Pacific Holdings, Inc. has a 52-week low of $21.01 and a 52-week high of $70.39. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The stock has a market cap of $2.79 billion, a P/E ratio of 6.21 and a beta of 0.83.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business had revenue of $1.82 billion for the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the previous year, the firm earned ($0.94) EPS. Par Pacific's revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 15.41 EPS for the current year.

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.

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