Punch & Associates Investment Management Inc. Has $12.10 Million Position in Par Pacific Holdings, Inc. $PARR

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Par Pacific Holdings by 8.9%, holding approximately 848,290 shares worth about $12.1 million.
• Par Pacific reported a quarterly earnings per share of $1.54, surpassing estimates, despite a 6.2% decline in year-over-year revenue.
• Wall Street analysts have varied opinions on Par Pacific, with target price estimates ranging from $19.00 to $38.00 and an average rating of "Moderate Buy."

Punch & Associates Investment Management Inc. lessened its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 8.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 848,290 shares of the company's stock after selling 83,053 shares during the period. Punch & Associates Investment Management Inc. owned approximately 1.64% of Par Pacific worth $12,097,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after buying an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Par Pacific in the 1st quarter valued at $35,000. CWM LLC boosted its position in Par Pacific by 117.5% in the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after buying an additional 3,867 shares during the last quarter. State of Wyoming bought a new position in shares of Par Pacific in the 1st quarter worth $104,000. Finally, GAMMA Investing LLC lifted its holdings in Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after acquiring an additional 5,887 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PARR. Raymond James Financial set a $38.00 target price on shares of Par Pacific and gave the company an "outperform" rating in a research report on Tuesday, July 15th. The Goldman Sachs Group downgraded Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 target price on the stock. in a report on Wednesday, May 28th. Mizuho set a $34.00 price target on Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. TD Cowen lowered their target price on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Finally, Zacks Research raised Par Pacific to a "strong-buy" rating in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $28.96.

Par Pacific Stock Down 1.0%

Shares of NYSE:PARR opened at $33.83 on Friday. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year 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 business has a fifty day moving average price of $31.47 and a two-hundred day moving average price of $22.26. The company 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 posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS 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 return on equity of 1.79% and a negative net margin of 0.25%.Par Pacific's revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 earnings per share. Analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Jeffrey Ryan Hollis sold 5,228 shares of the company's stock in a transaction 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 represents a 17.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction that occurred 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 represents a 17.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,954 shares of company stock worth $796,308. 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.

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