Invesco Ltd. Has $16.50 Million Stock Position in Par Pacific Holdings, Inc. $PARR

Key Points

• Invesco Ltd. increased its holdings in Par Pacific Holdings, Inc. by 6.2% during Q1, owning approximately 2.13% of the company, valued at $16.5 million.
• Several institutional investors have significantly increased their stakes in Par Pacific, with Sterling Capital Management growing its position by 821.5% in the last quarter.
• Par Pacific reported a quarterly EPS of $1.54, surpassing expectations, but its revenue decreased by 6.2% year-over-year.

Invesco Ltd. increased its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157,058 shares of the company's stock after purchasing an additional 67,481 shares during the period. Invesco Ltd. owned approximately 2.13% of Par Pacific worth $16,500,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PARR. Sterling Capital Management LLC lifted its stake in Par Pacific by 821.5% in the 4th 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 lifted its stake in Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after acquiring an additional 986 shares in the last quarter. CWM LLC lifted its stake in Par Pacific by 117.5% in the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after acquiring an additional 3,867 shares in the last quarter. GAMMA Investing LLC lifted its stake in Par Pacific by 352.7% in the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after acquiring an additional 5,887 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Par Pacific by 54.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock valued at $117,000 after acquiring an additional 2,884 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Mizuho set a $34.00 target price on Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. Cowen restated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. TD Cowen lowered their price target on Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. 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 research report on Wednesday, May 28th. Finally, Wall Street Zen lowered Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $28.96.

Insider Activity

In other news, SVP Terrill Pitkin sold 5,164 shares of the stock in a transaction 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 sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at approximately $1,153,007.31. This represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.40% of the company's stock.

Par Pacific Stock Performance

NYSE PARR traded up $1.83 on Wednesday, reaching $34.08. The stock had a trading volume of 1,721,154 shares, compared to its average volume of 1,648,579. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The firm has a fifty day moving average of $30.40 and a two-hundred day moving average of $21.37. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $35.32. The company has a market cap of $1.73 billion, a P/E ratio of -121.71 and a beta of 1.83.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $1.47 billion. During the same period in the prior year, the firm posted $0.49 EPS. The company's revenue for the quarter was down 6.2% on a year-over-year basis. On average, equities research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

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.