FORA Capital LLC Acquires Shares of 17,393 Par Pacific Holdings, Inc. $PARR

Key Points

• FORA Capital LLC has acquired a new stake in Par Pacific Holdings, purchasing 17,393 shares valued at approximately $248,000 during the first quarter.
• Par Pacific's shares have received mixed ratings from analysts, with a consensus target price of $28.96 and ratings ranging from "strong buy" to "hold."
• The company reported earnings of $1.54 per share for the last quarter, exceeding analysts' expectations, although revenue declined by 6.2% compared to the previous year.

FORA Capital LLC bought a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,393 shares of the company's stock, valued at approximately $248,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PARR. Walleye Capital LLC boosted its holdings in Par Pacific by 365.4% in the first quarter. Walleye Capital LLC now owns 424,549 shares of the company's stock worth $6,054,000 after acquiring an additional 333,319 shares in the last quarter. Jump Financial LLC bought a new position in Par Pacific in the first quarter worth approximately $3,289,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Par Pacific by 1.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 812,410 shares of the company's stock worth $11,585,000 after acquiring an additional 12,170 shares in the last quarter. AlphaQuest LLC boosted its holdings in Par Pacific by 1,072.1% in the first quarter. AlphaQuest LLC now owns 11,428 shares of the company's stock worth $163,000 after acquiring an additional 10,453 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new position in Par Pacific in the first quarter worth approximately $208,000. Institutional investors own 92.15% of the company's stock.

Par Pacific Stock Down 2.5%

Shares of Par Pacific stock traded down $0.87 on Thursday, hitting $34.23. The company had a trading volume of 1,309,154 shares, compared to its average volume of 1,601,363. 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 stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -122.24 and a beta of 1.82. The stock has a 50 day moving average of $31.32 and a 200-day moving average of $22.13. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $35.94.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 1.79% and a negative net margin of 0.25%.Par Pacific's revenue was down 6.2% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share. As a group, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group lowered Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Wednesday, May 28th. Cowen reiterated a "buy" rating on shares of Par Pacific in a report on Thursday, August 7th. Mizuho set a $34.00 price target on Par Pacific and gave the stock a "neutral" rating in a report on Friday, July 11th. Zacks Research upgraded Par Pacific to a "strong-buy" rating in a report on Monday, August 11th. Finally, TD Cowen cut their price target on Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. One investment 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 stock. According to MarketBeat, Par Pacific has a consensus rating of "Moderate Buy" and an average price target of $28.96.

Insiders Place Their Bets

In related news, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the completion of the sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the sale, the chief accounting officer directly owned 17,491 shares of the company's stock, valued at $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,954 shares of company stock valued at $796,308. Insiders own 4.40% of the company's stock.

Par Pacific Company Profile

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.