Fox Run Management L.L.C. Invests $795,000 in Par Pacific Holdings, Inc. $PARR

Key Points

• Fox Run Management L.L.C. has acquired 55,740 shares of Par Pacific Holdings, Inc. for approximately $795,000, increasing its stake to 0.10% as of the end of the most recent reporting period.
• Par Pacific has seen notable increases in institutional investments, with Sterling Capital Management boosting its stake by 821.5% and GAMMA Investing LLC increasing its position by 352.7% in the first quarter.
• Analyst ratings for Par Pacific have improved, with Piper Sandler raising its price target from $26.00 to $38.00 and five analysts issuing a buy or strong buy rating, indicating positive market sentiment.

Fox Run Management L.L.C. bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 55,740 shares of the company's stock, valued at approximately $795,000. Fox Run Management L.L.C. owned about 0.10% of Par Pacific at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of Par Pacific by 11.7% in the 4th quarter. JPMorgan Chase & Co. now owns 163,247 shares of the company's stock valued at $2,676,000 after acquiring an additional 17,041 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Par Pacific by 22.6% in the 4th quarter. Wells Fargo & Company MN now owns 33,855 shares of the company's stock valued at $555,000 after acquiring an additional 6,238 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Par Pacific by 35.1% in the 4th quarter. Cerity Partners LLC now owns 14,036 shares of the company's stock valued at $239,000 after acquiring an additional 3,644 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Par Pacific by 8.9% in the 4th quarter. Bank of Montreal Can now owns 16,522 shares of the company's stock valued at $271,000 after acquiring an additional 1,351 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Par Pacific by 0.8% in the 4th quarter. Legal & General Group Plc now owns 150,322 shares of the company's stock valued at $2,464,000 after acquiring an additional 1,156 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total transaction of $144,437.08. Following the transaction, the senior vice president owned 41,223 shares of the company's stock, valued at $1,153,007.31. This trade represents a 11.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.40% of the company's stock.

Par Pacific Stock Up 4.8%

Shares of PARR stock traded up $1.44 on Wednesday, reaching $31.54. 1,240,725 shares of the company were exchanged, compared to its average volume of 1,383,822. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -112.59 and a beta of 1.83. The company has a 50-day moving average of $29.64 and a 200-day moving average of $20.79. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $35.32.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.80. The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The business's revenue was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.49 EPS. Analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of research reports. Raymond James Financial set a $38.00 price target on Par Pacific and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen downgraded Par Pacific from a "strong-buy" rating to a "buy" rating in a report on Sunday. Cowen restated a "buy" rating on shares of Par Pacific in a report on Thursday, August 7th. Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a report on Friday, July 11th. Finally, Zacks Research upgraded Par Pacific to a "strong-buy" rating in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Par Pacific presently has an average rating of "Moderate Buy" and an average target price of $28.96.

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.