Petrus Trust Company LTA Purchases New Stake in Par Pacific Holdings, Inc. $PARR

Key Points

• Petrus Trust Company LTA has acquired a new stake in Par Pacific Holdings, purchasing 55,521 shares valued at approximately $792,000, representing about 0.11% ownership in the company.
• Major institutional investors, such as Millennium Management LLC and Charles Schwab Investment Management Inc., have significantly increased their stakes in Par Pacific, indicating strong institutional interest in the company.
• Par Pacific's stock experienced a slight decline of 1% recently, with the current trading price at $33.83, and it reported a positive earnings per share of $1.54, exceeding analysts' expectations.

Petrus Trust Company LTA purchased a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 55,521 shares of the company's stock, valued at approximately $792,000. Petrus Trust Company LTA owned approximately 0.11% of Par Pacific at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Par Pacific by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company's stock worth $461,000 after acquiring an additional 1,427 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Par Pacific by 118.2% in the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company's stock worth $2,344,000 after acquiring an additional 89,023 shares during the last quarter. PDT Partners LLC acquired a new stake in shares of Par Pacific in the first quarter worth approximately $2,347,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Par Pacific in the first quarter worth approximately $1,866,000. Finally, Royal Bank of Canada boosted its position in shares of Par Pacific by 23.9% in the first quarter. Royal Bank of Canada now owns 23,453 shares of the company's stock worth $334,000 after acquiring an additional 4,525 shares during the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PARR has been the topic of several research analyst reports. Wall Street Zen cut shares of Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Zacks Research raised shares of Par Pacific to a "strong-buy" rating in a research report on Monday, August 11th. The Goldman Sachs Group lowered shares of Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target on the stock. in a report on Wednesday, May 28th. Piper Sandler raised their price target on shares of Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Finally, Raymond James Financial raised their price target on shares of Par Pacific from $36.00 to $38.00 and gave the company an "outperform" rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $28.96.

Par Pacific Stock Up 7.8%

NYSE:PARR traded up $2.63 during trading hours on Tuesday, hitting $36.15. The stock had a trading volume of 1,559,218 shares, compared to its average volume of 1,617,845. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $36.26. The business has a 50 day simple moving average of $31.76 and a two-hundred day simple moving average of $22.57. The company has a market cap of $1.84 billion, a PE ratio of -129.10 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter last year, the company earned $0.49 earnings per share. Par Pacific's revenue for the quarter was down 6.2% on a year-over-year basis. Analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Activity

In other Par Pacific news, CAO Ivan Daniel Guerra sold 5,500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $35.11, for a total value of $193,105.00. Following the completion of the sale, the chief accounting officer owned 17,491 shares of the company's stock, valued at $614,109.01. This trade represents 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 available through the SEC website. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total value of $180,627.40. Following the transaction, the insider owned 24,679 shares of the company's stock, valued at approximately $852,659.45. This trade represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,954 shares of company stock worth $796,308 over the last three months. Insiders own 4.40% of the company's stock.

About Par Pacific

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.