Russell Investments Group Ltd. Purchases 51,133 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Russell Investments Group Ltd. significantly increased its stake in Par Pacific Holdings, raising its ownership by 195.0% to a total of 77,361 shares valued at approximately $1.1 million.
• Various institutional investors, including Signaturefd LLC and GAMMA Investing LLC, have also made substantial increases to their positions in Par Pacific, contributing to a total institutional ownership of 92.15%.
• Par Pacific reported earnings of $1.54 per share, surpassing analysts' estimates of $0.74, although its revenue for the quarter was down 6.2% compared to the previous year.

Russell Investments Group Ltd. increased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 195.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,361 shares of the company's stock after purchasing an additional 51,133 shares during the period. Russell Investments Group Ltd. owned approximately 0.14% of Par Pacific worth $1,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock worth $34,000 after purchasing an additional 986 shares during the last quarter. CWM LLC lifted its holdings in Par Pacific by 117.5% during the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock worth $102,000 after purchasing an additional 3,867 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock worth $108,000 after purchasing an additional 5,887 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Par Pacific by 54.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock worth $117,000 after purchasing an additional 2,884 shares during the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in Par Pacific during the 4th quarter worth approximately $183,000. 92.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PARR has been the subject of several analyst reports. TD Cowen dropped their price objective on Par Pacific from $35.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Raymond James Financial set a $38.00 target price on Par Pacific and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Wall Street Zen downgraded Par Pacific from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 17th. Zacks Research upgraded Par Pacific to a "strong-buy" rating in a research report on Monday, August 11th. Finally, Mizuho set a $34.00 target price on Par Pacific and gave the company a "neutral" rating in a research report on Friday, July 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.96.

Par Pacific Price Performance

Shares of Par Pacific stock traded up $0.84 during trading on Monday, reaching $34.71. 1,698,994 shares of the company's stock were exchanged, compared to its average volume of 1,693,770. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $35.32. The company has a market cap of $1.76 billion, a P/E ratio of -123.96 and a beta of 1.82. The firm's 50-day moving average price is $30.67 and its 200 day moving average price is $21.69.

Par Pacific (NYSE:PARR - Get Free Report) last posted 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 earned $0.49 EPS. Par Pacific's revenue was down 6.2% on a year-over-year basis. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Terrill Pitkin sold 5,164 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.