LMG Wealth Partners LLC Invests $760,000 in Par Pacific Holdings, Inc. $PARR

Key Points

• LMG Wealth Partners established a new position in Par Pacific, purchasing 21,622 shares valued at about $760,000 in the fourth quarter, according to its 13F filing.
• Large institutions have been adding to PARR—Vanguard now owns roughly 5.04 million shares—and overall institutional ownership is high at 92.15%, with several funds markedly increasing stakes.
• Analyst sentiment is broadly positive: the consensus rating is a "Moderate Buy" with an average target of $67, and firms including Goldman Sachs have raised ratings and price targets (up to $77).

LMG Wealth Partners LLC purchased a new position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 21,622 shares of the company's stock, valued at approximately $760,000.

A number of other hedge funds have also recently made changes to their positions in PARR. Vanguard Group Inc. boosted its position in shares of Par Pacific by 30.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company's stock worth $178,680,000 after purchasing an additional 1,190,088 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Par Pacific by 7,787.1% in the 4th quarter. SG Americas Securities LLC now owns 563,930 shares of the company's stock worth $19,816,000 after purchasing an additional 556,780 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Par Pacific by 42.8% in the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company's stock worth $53,923,000 after purchasing an additional 456,473 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company's stock worth $62,203,000 after purchasing an additional 317,484 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Par Pacific by 1,391.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 267,944 shares of the company's stock worth $9,491,000 after purchasing an additional 249,982 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PARR shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Par Pacific in a research report on Friday, March 27th. Piper Sandler boosted their price objective on shares of Par Pacific from $63.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, April 8th. Raymond James Financial boosted their price objective on shares of Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. The Goldman Sachs Group upgraded shares of Par Pacific from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Finally, TD Cowen boosted their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Par Pacific Price Performance

Shares of NYSE PARR opened at $65.47 on Friday. Par Pacific Holdings, Inc. has a twelve month low of $14.00 and a twelve month high of $68.00. The firm has a market cap of $3.24 billion, a P/E ratio of 8.98 and a beta of 0.91. The company has a 50 day moving average of $56.92 and a 200 day moving average of $45.68. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.04). The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.68 billion. Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. Par Pacific's quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.79) earnings per share. As a group, research analysts expect that Par Pacific Holdings, Inc. will post 14.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the business's stock in a transaction on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $24,714,448.02. The trade was a 19.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company's stock.

Par Pacific Profile

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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