Charles Schwab Investment Management Inc. Boosts Stock Position in Par Pacific Holdings, Inc. $PARR

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Par Pacific Holdings, Inc. by 32.6% during the first quarter, now holding 1,205,756 shares valued at approximately $17.19 million.
• Par Pacific's stock price rose 3.2% to open at $31.10, while the company has shown mixed financial performance with a reported revenue of $1.89 billion but a negative net margin of -0.25%.
• Analysts are divided on the stock, with ratings ranging from "strong buy" to "buy," and an average price target of $28.96.

Charles Schwab Investment Management Inc. grew its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 32.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,205,756 shares of the company's stock after buying an additional 296,536 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.22% of Par Pacific worth $17,194,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its stake in Par Pacific by 821.5% during the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock worth $28,000 after purchasing an additional 1,528 shares in the last quarter. Signaturefd LLC grew its stake in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares in the last quarter. CWM LLC grew its stake in Par Pacific by 117.5% during the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock worth $102,000 after purchasing an additional 3,867 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after acquiring an additional 5,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Par Pacific by 54.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock worth $117,000 after acquiring an additional 2,884 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Stock Performance

Shares of Par Pacific stock traded down $0.28 on Thursday, hitting $33.90. The stock had a trading volume of 1,585,789 shares, compared to its average volume of 1,676,244. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.32. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -121.05 and a beta of 1.83. The company's 50 day moving average price is $30.53 and its 200 day moving average price is $21.49.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the business earned $0.49 EPS. The business's quarterly revenue was down 6.2% on a year-over-year basis. On average, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PARR shares. Mizuho set a $34.00 price objective on Par Pacific and gave the stock a "neutral" rating in a research report on Friday, July 11th. TD Cowen lowered their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a research report on Wednesday, May 28th. Cowen reaffirmed a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. Finally, Raymond James Financial set a $38.00 price objective on Par Pacific and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Par Pacific has an average rating of "Moderate Buy" and an average price target of $28.96.

Insider Buying and Selling

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by corporate insiders.

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.