EntryPoint Capital LLC Makes New Investment in Par Pacific Holdings, Inc. $PARR

Key Points

• EntryPoint Capital LLC has acquired a new position in Par Pacific Holdings, Inc., purchasing 14,612 shares valued at approximately $208,000.
• The stock is heavily held by institutional investors, with 92.15% of the shares owned by them, indicating strong institutional interest.
• Par Pacific reported significant earnings of $1.54 per share in its latest quarter, exceeding estimates and highlighting a solid financial performance despite a 6.2% revenue decline year-over-year.

EntryPoint Capital LLC bought a new position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,612 shares of the company's stock, valued at approximately $208,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Millennium Management LLC grew its stake in Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after acquiring an additional 586,003 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock worth $17,194,000 after acquiring an additional 296,536 shares in the last quarter. Invesco Ltd. grew its stake in Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock worth $16,500,000 after acquiring an additional 67,481 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Par Pacific by 9.8% during the fourth quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock valued at $16,878,000 after purchasing an additional 91,814 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Par Pacific during the first quarter valued at approximately $12,750,000. 92.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PARR has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Mizuho set a $34.00 price objective on shares of Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. Piper Sandler increased their price objective on shares of Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Zacks Research upgraded shares of Par Pacific to a "strong-buy" rating in a research note on Monday, August 11th. Finally, The Goldman Sachs Group downgraded shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a research note on Wednesday, May 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Par Pacific presently has an average rating of "Moderate Buy" and an average price target of $28.96.

Insiders Place Their Bets

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the completion of the sale, the senior vice president directly owned 41,223 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.40% of the stock is currently owned by company insiders.

Par Pacific Price Performance

Shares of PARR opened at $31.0980 on Friday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -111.06 and a beta of 1.83. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.32. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The company has a 50 day moving average of $30.05 and a two-hundred day moving average of $21.07.

Par Pacific (NYSE:PARR - Get Free Report) last announced 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. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. Par Pacific's revenue was down 6.2% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. As a group, analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

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.

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