Kapitalo Investimentos Ltda Makes New Investment in Par Pacific Holdings, Inc. $PARR

Key Points

• Kapitalo Investimentos Ltda made a new investment of $304,000 in Par Pacific Holdings, acquiring 11,446 shares during the second quarter, as reported in their recent SEC filing.
• Insider Shawn David Flores sold 8,062 shares at an average price of $34.50, marking a 17.10% decrease in ownership, which has been disclosed to the SEC.
• Analysts have provided favorable ratings for Par Pacific, with Cowen and others issuing "buy" ratings and price targets increasing, reflecting positive sentiment in the market.

Kapitalo Investimentos Ltda acquired a new position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,446 shares of the company's stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PARR. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $17,194,000 after purchasing an additional 296,536 shares during the last quarter. Invesco Ltd. raised its stake in Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock worth $16,500,000 after acquiring an additional 67,481 shares during the last quarter. Nuveen Asset Management LLC lifted its position in 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 acquiring an additional 91,814 shares during the period. Nuveen LLC purchased a new stake in Par Pacific during the 1st quarter valued at about $12,750,000. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Par Pacific by 1.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 812,410 shares of the company's stock valued at $11,585,000 after purchasing an additional 12,170 shares during the period. Institutional investors own 92.15% of the company's stock.

Insider Activity at Par Pacific

In related news, CAO Ivan Daniel Guerra sold 5,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total transaction of $193,105.00. Following the completion of the transaction, the chief accounting officer owned 17,491 shares in the company, valued at $614,109.01. This represents a 23.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,954 shares of company stock valued at $863,048 in the last three months. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho upped their target price on Par Pacific from $34.00 to $40.00 and gave the company a "neutral" rating in a research report on Monday, September 15th. The Goldman Sachs Group downgraded shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price objective on the stock. in a report on Wednesday, May 28th. Zacks Research raised shares of Par Pacific to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Finally, Piper Sandler boosted their price objective on Par Pacific from $39.00 to $44.00 and gave the company an "overweight" rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $30.68.

Par Pacific Price Performance

Shares of Par Pacific stock traded up $0.29 on Monday, hitting $35.26. The company's stock had a trading volume of 1,285,802 shares, compared to its average volume of 1,574,113. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $36.39. The firm has a fifty day moving average price of $32.12 and a 200-day moving average price of $23.93. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -125.92 and a beta of 1.82.

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 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 return on equity of 1.79% and a negative net margin of 0.25%.Par Pacific's quarterly revenue was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share. As a group, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal 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.