GAMMA Investing LLC Grows Position in Par Pacific Holdings, Inc. $PARR

Key Points

• GAMMA Investing LLC increased its stake in Par Pacific Holdings by 94.4% in Q2, owning a total of 14,692 shares valued at $390,000.
• Par Pacific reported $1.54 earnings per share for the latest quarter, significantly beating estimates and achieving revenues of $1.89 billion, despite a 6.2% decline year-over-year.
• Analysts have mixed sentiments on Par Pacific, with a consensus rating of "Moderate Buy" and an average price target of $33.86 per share.

GAMMA Investing LLC boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 94.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,692 shares of the company's stock after buying an additional 7,136 shares during the quarter. GAMMA Investing LLC's holdings in Par Pacific were worth $390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PARR. Nuveen LLC purchased a new stake in Par Pacific in the 1st quarter valued at $12,750,000. Walleye Capital LLC grew its stake in Par Pacific by 365.4% in the 1st quarter. Walleye Capital LLC now owns 424,549 shares of the company's stock valued at $6,054,000 after purchasing an additional 333,319 shares during the period. 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 valued at $17,194,000 after purchasing an additional 296,536 shares during the period. Jump Financial LLC bought a new position in Par Pacific in the 1st quarter valued at $3,289,000. Finally, Jane Street Group LLC grew its stake in Par Pacific by 352.7% in the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock valued at $3,862,000 after purchasing an additional 211,002 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Performance

NYSE:PARR opened at $37.22 on Friday. The business's 50-day moving average price is $32.49 and its two-hundred day moving average price is $24.45. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $38.60. The stock has a market cap of $1.89 billion, a P/E ratio of -132.91 and a beta of 1.82. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly 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. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The firm had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the firm posted $0.49 EPS. The company's revenue was down 6.2% compared to the same quarter last year. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. TD Cowen cut their price target on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Cowen reiterated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. UBS Group increased their price target on Par Pacific from $23.00 to $37.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 13th. Finally, Raymond James Financial increased their price target on Par Pacific from $36.00 to $38.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 9th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Par Pacific presently has a consensus rating of "Moderate Buy" and an average target price of $33.86.

Insider Transactions at Par Pacific

In other Par Pacific news, CAO Ivan Daniel Guerra sold 5,500 shares of Par Pacific stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total value of $144,437.08. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is owned by insiders.

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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