Hillsdale Investment Management Inc. Acquires Shares of 198,766 Par Pacific Holdings, Inc. $PARR

Key Points

• Hillsdale Investment Management disclosed a new fourth-quarter stake in Par Pacific Holdings, buying 198,766 shares worth about $6.99 million, or roughly 0.40% of the company.
• Insider selling was notable, with CEO William Monteleone selling 108,948 shares for about $5.89 million and reducing his ownership by 19.24%.
• Par Pacific recently missed EPS estimates in its latest quarter, reporting $0.78 per share versus $1.00 expected, though revenue topped forecasts and analysts still carry a Moderate Buy rating with a $70.00 consensus price target.

Hillsdale Investment Management Inc. acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 198,766 shares of the company's stock, valued at approximately $6,985,000. Hillsdale Investment Management Inc. owned approximately 0.40% of Par Pacific at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company's stock worth $178,680,000 after buying an additional 1,190,088 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Par Pacific by 6.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,767,341 shares of the company's stock worth $62,601,000 after buying an additional 109,705 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Par Pacific by 22.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company's stock worth $62,203,000 after buying an additional 317,484 shares during the period. American Century Companies Inc. boosted its stake in shares of Par Pacific by 42.8% during the third quarter. American Century Companies Inc. now owns 1,522,392 shares of the company's stock worth $53,923,000 after buying an additional 456,473 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Par Pacific by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,222,100 shares of the company's stock worth $42,954,000 after buying an additional 21,254 shares during the period. Institutional investors and hedge funds own 92.15% of the company's stock.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company's stock, valued at approximately $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.60% of the stock is currently owned by insiders.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $56.00 on Friday. The company has a quick ratio of 0.60, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The company has a market cap of $2.81 billion, a P/E ratio of 6.25 and a beta of 0.91. Par Pacific Holdings, Inc. has a 52 week low of $20.74 and a 52 week high of $70.39. The company has a 50-day moving average price of $61.82 and a 200 day moving average price of $48.65.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. Par Pacific's revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.94) EPS. Research analysts predict that Par Pacific Holdings, Inc. will post 15.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PARR shares. Raymond James Financial increased their target price on shares of Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 25th. The Goldman Sachs Group upgraded shares of Par Pacific from a "neutral" rating to a "buy" rating and increased their target price for the stock from $53.00 to $77.00 in a research note on Friday, April 10th. Piper Sandler increased their target price on shares of Par Pacific from $63.00 to $72.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Evercore upgraded shares of Par Pacific to an "outperform" rating in a research note on Wednesday. Finally, Guggenheim upgraded shares of Par Pacific to an "outperform" rating in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.00.

Par Pacific Profile

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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