164,621 Shares in Par Pacific Holdings, Inc. $PARR Bought by PDT Partners LLC

Key Points

• PDT Partners LLC acquired 164,621 shares of Par Pacific Holdings, valued at approximately $2.35 million, representing about 0.32% ownership of the company as of the latest reporting period.
• Analysts have mixed ratings on Par Pacific, with Goldman Sachs downgrading the stock to "neutral" but Zacks Research rating it "strong-buy." The consensus target price for the stock is currently set at $28.96.
• Par Pacific reported a net revenue of $1.89 billion for the last quarter, exceeding expectations, despite showing a 6.2% decline compared to the same quarter last year.

PDT Partners LLC acquired a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 164,621 shares of the company's stock, valued at approximately $2,347,000. PDT Partners LLC owned approximately 0.32% of Par Pacific at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its holdings in Par Pacific by 43.4% during the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock valued at $31,744,000 after buying an additional 586,003 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Par Pacific by 32.6% in 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 in the last quarter. Invesco Ltd. raised its holdings in shares of Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock valued at $16,500,000 after purchasing an additional 67,481 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Par Pacific by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock valued at $16,878,000 after purchasing an additional 91,814 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Par Pacific in the 1st quarter valued at about $12,750,000. Institutional investors own 92.15% of the company's stock.

Analyst Ratings Changes

PARR has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. Cowen reiterated a "buy" rating on shares of Par Pacific in a research note on Thursday, August 7th. Piper Sandler boosted their price objective on shares of Par Pacific from $26.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Mizuho set a $34.00 price objective on shares of Par Pacific and gave the stock a "neutral" rating in a research note on Friday, July 11th. Finally, Raymond James Financial set a $38.00 price objective on shares of Par Pacific and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $28.96.

Par Pacific Stock Performance

PARR traded down $0.33 on Friday, reaching $33.83. 1,256,275 shares of the stock were exchanged, compared to its average volume of 1,585,870. The company's 50-day moving average price is $31.47 and its 200 day moving average price is $22.26. Par Pacific Holdings, Inc. has a fifty-two week low of $11.86 and a fifty-two week high of $35.94. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The firm has a market capitalization of $1.72 billion, a PE ratio of -120.81 and a beta of 1.82.

Par Pacific (NYSE:PARR - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.80. Par Pacific had a negative return on equity of 1.79% and a negative net margin of 0.25%.The company had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm's revenue was down 6.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling at Par Pacific

In other news, SVP Terrill Pitkin sold 5,164 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at $1,153,007.31. This represents a 11.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn David Flores sold 8,062 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.50, for a total transaction of $278,139.00. Following the completion of the sale, the insider directly owned 39,089 shares in the company, valued at $1,348,570.50. This trade represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,954 shares of company stock valued at $796,308 over the last quarter. Insiders own 4.40% of the company's stock.

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.