SCP Investment LP Invests $411,000 in Par Pacific Holdings, Inc. (NYSE:PARR)

Key Points

• SCP Investment LP has acquired a new stake in Par Pacific Holdings, purchasing 28,800 shares valued at approximately $411,000, representing 0.05% ownership.
• Several institutional investors significantly increased their holdings in Par Pacific during the fourth quarter, with Solas Capital Management boosting its stake by 417.7% to own 795,000 shares valued at $13.03 million.
• Par Pacific reported a loss of $0.94 EPS in its latest quarterly earnings, falling short of the consensus estimate of ($0.40) and showing an 11.9% decline in revenue year-over-year despite significant revenue of $1.75 billion.

SCP Investment LP acquired a new position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,800 shares of the company's stock, valued at approximately $411,000. SCP Investment LP owned about 0.05% of Par Pacific at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PARR. Sterling Capital Management LLC increased its holdings in Par Pacific by 821.5% in the 4th quarter. Sterling Capital Management LLC now owns 1,714 shares of the company's stock valued at $28,000 after buying an additional 1,528 shares during the period. Signaturefd LLC grew 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 acquiring an additional 986 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Par Pacific by 123.1% during the 4th quarter. Quadrant Capital Group LLC now owns 3,233 shares of the company's stock valued at $53,000 after purchasing an additional 1,784 shares during the period. CWM LLC lifted its position in Par Pacific by 117.5% during the 1st quarter. CWM LLC now owns 7,158 shares of the company's stock valued at $102,000 after purchasing an additional 3,867 shares during the period. Finally, GAMMA Investing LLC lifted its position in Par Pacific by 352.7% during the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company's stock valued at $108,000 after purchasing an additional 5,887 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PARR has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Raymond James Financial set a $38.00 target price on shares of Par Pacific and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Piper Sandler lifted their price objective 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. UBS Group decreased their target price on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Mizuho set a $34.00 target price on shares of Par Pacific and gave the company a "neutral" rating in a research note on Friday, July 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $26.68.

Par Pacific Stock Performance

Shares of PARR traded down $2.68 during midday trading on Wednesday, reaching $27.80. 668,374 shares of the stock were exchanged, compared to its average volume of 1,373,477. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.32. The company has a quick ratio of 0.54, a current ratio of 1.56 and a debt-to-equity ratio of 1.04. The company has a market cap of $1.43 billion, a P/E ratio of -24.77 and a beta of 1.83. The stock's 50 day simple moving average is $28.31 and its 200 day simple moving average is $20.03.

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, beating analysts' consensus estimates of $0.74 by $0.80. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. Par Pacific's revenue for the quarter 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. On average, sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

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.