First Trust Advisors LP Buys 106,238 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• First Trust Advisors LP increased its Par Pacific stake by 395.9% in the first quarter, purchasing 106,238 additional shares for a total of 133,073 shares valued at approximately $8.34 million. Institutional investors collectively own 92.15% of the company.
• Par Pacific shares opened at $85.87, near their 12-month high of $87.03. The company reported quarterly revenue of $1.82 billion, up 4.5% year over year, but EPS of $0.78 fell short of the $1.00 analyst consensus.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $81.57, while several firms recently upgraded the stock to “outperform.”

First Trust Advisors LP increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 395.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,073 shares of the company's stock after purchasing an additional 106,238 shares during the period. First Trust Advisors LP owned approximately 0.27% of Par Pacific worth $8,336,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in shares of Par Pacific by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,774,621 shares of the company's stock worth $62,363,000 after buying an additional 7,280 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Par Pacific by 0.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,765,631 shares of the company's stock valued at $62,044,000 after acquiring an additional 9,470 shares during the period. Geode Capital Management LLC boosted its stake in Par Pacific by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company's stock worth $42,954,000 after acquiring an additional 21,254 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Par Pacific by 13.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,008,964 shares of the company's stock worth $35,455,000 after acquiring an additional 117,200 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Par Pacific by 36.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 947,686 shares of the company's stock worth $33,302,000 after acquiring an additional 255,173 shares during the last quarter. Institutional investors own 92.15% of the company's stock.

Par Pacific Trading Down 0.1%

PARR opened at $85.87 on Friday. The stock has a market capitalization of $4.31 billion, a P/E ratio of 9.58 and a beta of 0.82. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 12 month low of $26.83 and a 12 month high of $87.03. The firm's fifty day simple moving average is $63.06 and its 200 day simple moving average is $55.92.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PARR shares. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Sunday, May 17th. Evercore raised shares of Par Pacific to an "outperform" rating in a report on Wednesday, May 27th. Guggenheim raised shares of Par Pacific to an "outperform" rating in a report on Wednesday, May 27th. Raymond James Financial upped their price objective on shares of Par Pacific from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Monday, July 13th. Finally, UBS Group raised their price objective on Par Pacific from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.57.

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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