Jump Financial LLC Invests $3.29 Million 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 Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in PARR. Wells Fargo & Company MN lifted its stake in shares of Par Pacific by 22.6% in the fourth quarter. Wells Fargo & Company MN now owns 33,855 shares of the company's stock worth $555,000 after buying an additional 6,238 shares in the last quarter. Mariner LLC lifted its stake in shares of Par Pacific by 7.7% in the fourth quarter. Mariner LLC now owns 15,136 shares of the company's stock worth $248,000 after buying an additional 1,086 shares in the last quarter. Guggenheim Capital LLC bought a new position in shares of Par Pacific in the fourth quarter worth approximately $239,000. First Trust Advisors LP lifted its stake in shares of Par Pacific by 57.2% in the fourth quarter. First Trust Advisors LP now owns 239,036 shares of the company's stock worth $3,918,000 after buying an additional 87,002 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of Par Pacific by 4.8% during the fourth quarter. MetLife Investment Management LLC now owns 34,587 shares of the company's stock valued at $567,000 after purchasing an additional 1,573 shares during the last quarter. Institutional investors own 92.15% of the company's stock.

Par Pacific Stock Performance

PARR stock traded up $0.84 during midday trading on Friday, reaching $34.71. 1,698,994 shares of the company's stock traded hands, compared to its average volume of 1,693,770. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.32. The stock has a market cap of $1.76 billion, a P/E ratio of -123.96 and a beta of 1.82. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The stock's 50-day moving average is $30.67 and its 200 day moving average is $21.69.

Par Pacific (NYSE:PARR - Get Free Report) last announced its earnings results 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 net margin of 0.25% and a negative return on equity of 1.79%. The business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same period in the prior year, the company earned $0.49 earnings per share. The firm's revenue was down 6.2% on a year-over-year basis. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on PARR. Mizuho set a $34.00 price objective on shares of Par Pacific and gave the company a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group cut shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective for the company. in a report on Wednesday, May 28th. Piper Sandler boosted 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. Raymond James Financial set a $38.00 price objective on shares of Par Pacific and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, TD Cowen decreased 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 investment 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $28.96.

Insider Buying and Selling

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total transaction of $144,437.08. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

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.