Envestnet Portfolio Solutions Inc. Makes New Investment in Par Pacific Holdings, Inc. (NYSE:PARR)

Envestnet Portfolio Solutions Inc. acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,584 shares of the company's stock, valued at approximately $194,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sterling Capital Management LLC boosted its stake in 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 buying an additional 1,528 shares during the last quarter. US Bancorp DE boosted its position in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company's stock worth $30,000 after acquiring an additional 652 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in Par Pacific by 123.1% in the fourth quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company's stock valued at $53,000 after purchasing an additional 1,784 shares during the period. GAMMA Investing LLC raised its stake in Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after purchasing an additional 5,887 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in shares of Par Pacific in the 4th quarter valued at $183,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PARR shares. Raymond James Financial upped their price objective on Par Pacific from $25.00 to $30.00 and gave the stock an "outperform" rating in a report on Monday. Piper Sandler lifted their price objective on Par Pacific from $21.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. UBS Group decreased their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Wednesday, May 28th. Finally, Mizuho raised their target price on Par Pacific from $18.00 to $21.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $21.96.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $26.60 on Tuesday. The business has a 50-day moving average price of $20.85 and a 200 day moving average price of $17.27. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $28.35. The firm has a market cap of $1.37 billion, a P/E ratio of -23.54 and a beta of 1.68. The company has a quick ratio of 0.54, a current ratio of 1.56 and a debt-to-equity ratio of 1.04.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. Par Pacific's revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 EPS. On average, sell-side analysts forecast 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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