Jackson Creek Investment Advisors LLC Acquires 39,329 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Jackson Creek Investment Advisors increased its Par Pacific stake by 325% in the fourth quarter, buying 39,329 additional shares and bringing its total holding to 51,431 shares worth about $1.8 million.
• Analyst sentiment is largely positive, with Goldman Sachs and JPMorgan both raising price targets to $77 and several firms issuing buy or overweight ratings. MarketBeat reports an average rating of Moderate Buy with a $67 average price target.
• Par Pacific missed EPS estimates in its latest quarterly report, posting $0.78 per share versus the expected $1.00, though revenue came in slightly above forecasts at $1.82 billion and rose 4.5% year over year.

Jackson Creek Investment Advisors LLC boosted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 325.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 51,431 shares of the company's stock after acquiring an additional 39,329 shares during the quarter. Jackson Creek Investment Advisors LLC owned approximately 0.10% of Par Pacific worth $1,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in Par Pacific during the third quarter valued at approximately $44,000. Aster Capital Management DIFC Ltd bought a new position in Par Pacific during the third quarter valued at approximately $48,000. Smartleaf Asset Management LLC grew its holdings in Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company's stock valued at $62,000 after purchasing an additional 1,048 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in Par Pacific during the third quarter valued at approximately $136,000. Finally, Osaic Holdings Inc. grew its holdings in Par Pacific by 19.7% during the second quarter. Osaic Holdings Inc. now owns 5,838 shares of the company's stock valued at $154,000 after purchasing an additional 961 shares during the last quarter. Institutional investors own 92.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on PARR shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Par Pacific in a report on Friday, March 27th. TD Cowen increased their price target on Par Pacific from $39.00 to $48.00 and gave the company a "buy" rating in a report on Friday, February 27th. The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and increased their price target for the company from $53.00 to $77.00 in a report on Friday, April 10th. Mizuho increased their price target on Par Pacific from $49.00 to $58.00 and gave the company a "neutral" rating in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. increased their price target on Par Pacific from $48.00 to $77.00 and gave the company an "overweight" rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.00.

Par Pacific Trading Down 3.9%

Shares of Par Pacific stock opened at $56.56 on Wednesday. The company's fifty day simple moving average is $61.68 and its 200-day simple moving average is $48.38. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 6.31 and a beta of 0.91. The company has a current ratio of 1.62, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Par Pacific Holdings, Inc. has a 1 year low of $20.74 and a 1 year high of $70.39.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.00 by ($0.22). The company had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a return on equity of 34.38% and a net margin of 6.02%.The company's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.94) EPS. As a group, sell-side analysts expect that Par Pacific Holdings, Inc. will post 13.72 EPS for the current year.

Insider Activity

In other news, CEO William Monteleone sold 108,948 shares of the firm's stock in a transaction on 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 sale, the chief executive officer owned 457,167 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 3.60% of the company's stock.

About Par Pacific

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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