Jump Financial LLC Makes New Investment in Par Pacific Holdings, Inc. $PARR

Key Points

• Jump Financial LLC acquired 230,613 shares of Par Pacific Holdings, Inc. valued at approximately $3.29 million, representing about 0.45% ownership of the company.
• Par Pacific's recent earnings report showed an EPS of $1.54, significantly exceeding analyst expectations, with revenues of $1.89 billion, despite a year-over-year decline of 6.2%.
• Analysts are optimistic about Par Pacific, with several setting new price targets; Raymond James has a price target of $38.00, while the consensus rating remains a "Moderate Buy."

Jump Financial LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 230,613 shares of the company's stock, valued at approximately $3,289,000. Jump Financial LLC owned approximately 0.45% of Par Pacific as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Millennium Management LLC raised its position in shares of Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after purchasing an additional 586,003 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Par Pacific by 32.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock worth $17,194,000 after purchasing an additional 296,536 shares during the last quarter. Invesco Ltd. raised its position in shares of Par Pacific by 6.2% during the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock worth $16,500,000 after purchasing an additional 67,481 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Par Pacific by 9.8% during the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock worth $16,878,000 after purchasing an additional 91,814 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Par Pacific during the 1st quarter worth about $12,750,000. Institutional investors and hedge funds own 92.15% of the company's stock.

Par Pacific Stock Performance

NYSE:PARR opened at $32.5340 on Tuesday. 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 market capitalization of $1.65 billion, a price-to-earnings ratio of -116.19 and a beta of 1.83. The company's 50-day moving average is $30.18 and its two-hundred day moving average is $21.21. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $35.32.

Par Pacific (NYSE:PARR - Get Free Report) last posted its 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. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. Par Pacific's revenue was down 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.49 EPS. Analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on PARR shares. Raymond James Financial set a $38.00 price target on shares of Par Pacific and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Cowen restated a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. Wall Street Zen cut shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Piper Sandler increased their price objective on shares of Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, TD Cowen cut their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.96.

Insiders Place Their Bets

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the transaction, the senior vice president directly owned 41,223 shares in the company, valued at $1,153,007.31. The trade was a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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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