Hotchkis & Wiley Capital Management LLC Buys 12,170 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Par Pacific Holdings by 1.5%, now owning 812,410 shares valued at approximately $11.58 million.
• Par Pacific's stock rose 3.2% and now trades around $31.10, while analysts predict a negative EPS of 0.15 for the current year.
• Recent analyst ratings have resulted in price target upgrades, with Piper Sandler increasing their target from $26.00 to $38.00 while maintaining an "overweight" rating.

Hotchkis & Wiley Capital Management LLC boosted its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 812,410 shares of the company's stock after acquiring an additional 12,170 shares during the period. Hotchkis & Wiley Capital Management LLC owned 1.58% of Par Pacific worth $11,585,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in shares of Par Pacific by 821.5% during the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock valued at $28,000 after acquiring an additional 1,528 shares in the last quarter. Signaturefd LLC boosted its holdings in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after acquiring an additional 986 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Par Pacific in the 1st quarter worth $35,000. CWM LLC raised its holdings in shares of Par Pacific by 117.5% in the first quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after purchasing an additional 3,867 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after purchasing an additional 5,887 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Stock Up 3.2%

Par Pacific stock opened at $31.0980 on Friday. The firm has a 50 day moving average price of $30.05 and a 200-day moving average price of $21.07. 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 Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.32. The company has a market capitalization of $1.58 billion, a P/E ratio of -111.06 and a beta of 1.83.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS 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 business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the business earned $0.49 earnings per share. Par Pacific's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Analyst Ratings Changes

PARR has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Mizuho set a $34.00 target price on Par Pacific and gave the stock a "neutral" rating in a research note on Friday, July 11th. Wall Street Zen downgraded Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Zacks Research upgraded Par Pacific to a "strong-buy" rating in a report on Monday, August 11th. Finally, Raymond James Financial set a $38.00 price objective on Par Pacific and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One research 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. Based on data from MarketBeat.com, the stock presently 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 Par Pacific stock in a transaction dated 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 sale, the senior vice president 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 4.40% of the company's stock.

Par Pacific 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.

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