Par Pacific Holdings, Inc. $PARR Shares Acquired by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. significantly increased its stake in Par Pacific Holdings by 241.3% during the second quarter, acquiring an additional 32,772 shares.
• Par Pacific Holdings reported earnings of $1.54 per share, beating expectations, with revenue totaling $1.89 billion for the quarter despite a 6.2% decline compared to the previous year.
• The company's stock has seen a 3.4% increase recently, with a current market cap of $1.79 billion and a price-to-earnings ratio of -125.75.

Envestnet Portfolio Solutions Inc. grew its position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 241.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,356 shares of the company's stock after purchasing an additional 32,772 shares during the quarter. Envestnet Portfolio Solutions Inc. owned approximately 0.09% of Par Pacific worth $1,230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its holdings in shares of Par Pacific by 17.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company's stock valued at $76,000 after purchasing an additional 428 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of Par Pacific by 175.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company's stock valued at $31,000 after buying an additional 753 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Par Pacific by 232.9% in the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company's stock valued at $35,000 after buying an additional 927 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of Par Pacific by 2.3% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 43,531 shares of the company's stock valued at $621,000 after buying an additional 960 shares during the last quarter. Finally, Signaturefd LLC grew its position in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after buying an additional 986 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Up 3.4%

Shares of NYSE:PARR opened at $35.21 on Friday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -125.75 and a beta of 1.74. The firm's 50-day simple moving average is $33.85 and its 200-day simple moving average is $26.71. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $38.60.

Par Pacific (NYSE:PARR - Get Free Report) last issued 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 business had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The business's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 earnings per share. As a group, equities research analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Ivan Daniel Guerra sold 5,500 shares of Par Pacific stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the sale, the chief accounting officer owned 17,491 shares of the company's stock, valued at $614,109.01. The trade was a 23.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction dated 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 in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,954 shares of company stock valued at $863,048. Corporate insiders own 4.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on PARR shares. Piper Sandler increased their target price on shares of Par Pacific from $39.00 to $44.00 and gave the company an "overweight" rating in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Par Pacific in a research report on Wednesday, October 8th. Zacks Research downgraded shares of Par Pacific from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 22nd. Wall Street Zen raised shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 13th. Finally, Cowen reissued a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Par Pacific has an average rating of "Moderate Buy" and a consensus price target of $34.86.

Par Pacific 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.