Massachusetts Financial Services Co. MA Purchases 33,537 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Massachusetts Financial Services Co. boosted its stake in Par Pacific by 105.8% in Q4, adding 33,537 shares to hold 65,235 shares worth about $2.29 million (roughly 0.13% of the company).
• CEO William Monteleone sold 108,948 shares on March 16 at an average price of $54.06 (≈$5.89M), cutting his ownership by 19.24% to 457,167 shares; insiders now own 3.6% of the stock.
• Analysts have lifted ratings and price targets recently (including upgrades from Goldman Sachs and higher targets from UBS, Raymond James and TD Cowen), leaving a consensus "Moderate Buy" with an average target of $67.00.

Massachusetts Financial Services Co. MA raised its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 105.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 65,235 shares of the company's stock after buying an additional 33,537 shares during the period. Massachusetts Financial Services Co. MA owned about 0.13% of Par Pacific worth $2,292,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its position in Par Pacific by 16.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company's stock valued at $66,000 after buying an additional 259 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Par Pacific by 1.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company's stock valued at $596,000 after buying an additional 266 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Par Pacific by 12.5% in the 3rd quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company's stock valued at $94,000 after buying an additional 293 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Par Pacific by 2.5% in the 4th quarter. GAMMA Investing LLC now owns 15,787 shares of the company's stock worth $555,000 after purchasing an additional 382 shares during the last quarter. Finally, Amundi boosted its position in shares of Par Pacific by 3.6% in the 3rd quarter. Amundi now owns 11,013 shares of the company's stock worth $388,000 after purchasing an additional 386 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors.

Par Pacific Stock Down 10.1%

NYSE:PARR opened at $57.27 on Friday. Par Pacific Holdings, Inc. has a 12-month low of $12.77 and a 12-month high of $67.39. The company has a quick ratio of 0.49, a current ratio of 1.61 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $2.83 billion, a P/E ratio of 7.86 and a beta of 0.97. The stock's fifty day simple moving average is $53.10 and its 200-day simple moving average is $43.90.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.04). The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The business's 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. Equities research analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on PARR. TD Cowen raised their price target on Par Pacific from $39.00 to $48.00 and gave the stock a "buy" rating in a research report on Friday, February 27th. Weiss Ratings restated a "hold (c+)" rating on shares of Par Pacific in a research report on Friday, March 27th. UBS Group raised their price target on Par Pacific from $40.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday, April 9th. Raymond James Financial raised their price target on Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a research report on Wednesday, March 25th. Finally, The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and raised their price target for the stock from $53.00 to $77.00 in a research report on Friday, April 10th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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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