Encompass Capital Advisors LLC Takes $28.84 Million Position in Par Pacific Holdings, Inc. $PARR

Key Points

• Encompass Capital Advisors acquired 460,393 shares of Par Pacific Holdings valued at approximately $28.84 million, representing a 0.92% stake. Institutional investors collectively own 92.15% of the company.
• Analyst sentiment is broadly positive: Par Pacific has a consensus “Moderate Buy” rating and an average price target of $81.57, with several firms recently raising ratings or targets.
• Par Pacific shares opened at $78.68, near their 52-week high of $82.29. The company’s latest quarterly revenue rose 4.5% year over year to $1.82 billion, although earnings of $0.78 per share missed estimates by $0.22.

Encompass Capital Advisors LLC acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 460,393 shares of the company's stock, valued at approximately $28,839,000. Encompass Capital Advisors LLC owned 0.92% of Par Pacific as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd raised its holdings in shares of Par Pacific by 34.9% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 1,847 shares of the company's stock worth $65,000 after acquiring an additional 478 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Par Pacific by 385.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,962 shares of the company's stock worth $69,000 after purchasing an additional 1,558 shares during the period. Federated Hermes Inc. boosted its stake in Par Pacific by 70.4% in the 4th quarter. Federated Hermes Inc. now owns 2,096 shares of the company's stock worth $74,000 after purchasing an additional 866 shares during the period. Smartleaf Asset Management LLC increased its holdings in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in Par Pacific during the 1st quarter worth about $205,000. Institutional investors and hedge funds own 92.15% of the company's stock.

Wall Street Analysts Forecast Growth

PARR has been the subject of several recent research reports. Zacks Research raised Par Pacific from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 7th. Piper Sandler lifted their target price on Par Pacific from $63.00 to $72.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Guggenheim upgraded Par Pacific to an "outperform" rating in a research note on Wednesday, May 27th. The Goldman Sachs Group upped their price target on Par Pacific from $77.00 to $92.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Par Pacific in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Par Pacific currently has a consensus rating of "Moderate Buy" and an average target price of $81.57.

Par Pacific Price Performance

Shares of PARR opened at $78.68 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $61.15 and its 200 day simple moving average is $54.74. Par Pacific Holdings, Inc. has a 1-year low of $26.83 and a 1-year high of $82.29. The company has a market cap of $3.95 billion, a price-to-earnings ratio of 8.78 and a beta of 0.82.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business's revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned ($0.94) EPS. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 18.6 earnings per share for the current fiscal year.

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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