Charles Schwab Investment Management Inc. Increases Stake 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. increased its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 32.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,205,756 shares of the company's stock after acquiring an additional 296,536 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.22% of Par Pacific worth $17,194,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Sterling Capital Management LLC lifted its position in shares of Par Pacific by 821.5% in 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 during the period. Signaturefd LLC lifted its holdings in Par Pacific by 70.2% during the first quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after buying an additional 986 shares during the period. CWM LLC boosted its position in Par Pacific by 117.5% during the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after acquiring an additional 3,867 shares in the last quarter. GAMMA Investing LLC boosted its position in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after acquiring an additional 5,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Par Pacific by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock valued at $117,000 after acquiring an additional 2,884 shares during the period. Institutional investors own 92.15% of the company's stock.

Wall Street Analysts Forecast Growth

PARR has been the topic of a number of recent research reports. Zacks Research raised Par Pacific to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen cut shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. TD Cowen cut their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. The Goldman Sachs Group cut shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price for the company. in a research report on Wednesday, May 28th. Finally, Cowen reaffirmed a "buy" rating on shares of Par Pacific in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Par Pacific has an average rating of "Moderate Buy" and a consensus price target of $28.96.

Par Pacific Trading Up 4.3%

Shares of NYSE:PARR traded up $1.3340 during midday trading on Monday, hitting $32.5340. The company's stock had a trading volume of 2,052,530 shares, compared to its average volume of 1,562,360. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The business's 50 day simple moving average is $30.05 and its 200 day simple moving average is $21.10. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $35.32.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS 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 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 firm earned $0.49 earnings per share. The business's revenue for the quarter was down 6.2% on a year-over-year basis. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction dated Thursday, August 14th. The shares were 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 owned 41,223 shares of the company's stock, valued at $1,153,007.31. This trade represents a 11.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.40% of the stock is owned by insiders.

About Par Pacific

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.