SG Americas Securities LLC Buys 556,780 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• SG Americas Securities LLC dramatically increased its Par Pacific stake in Q4, buying 556,780 shares to hold 563,930 shares (about 1.12% of the company) valued at roughly $19.82 million.
• Par Pacific CEO William Monteleone sold 108,948 shares on March 16 at an average price of $54.06 for about $5.89 million, cutting his ownership by 19.24% to 457,167 shares.
• Analysts are mixed: four Buy and five Hold ratings leave a consensus "Hold" with an average target of $55.50, while Goldman Sachs and TD Cowen recently raised their price targets to $53 and $48 respectively.

SG Americas Securities LLC raised its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 7,787.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 563,930 shares of the company's stock after purchasing an additional 556,780 shares during the quarter. SG Americas Securities LLC owned 1.12% of Par Pacific worth $19,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of PARR. Nisa Investment Advisors LLC increased its stake in shares of Par Pacific by 16.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company's stock valued at $66,000 after purchasing an additional 259 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Par Pacific by 1.6% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 16,948 shares of the company's stock valued at $596,000 after buying an additional 266 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Par Pacific by 12.5% in the third quarter. Smartleaf Asset Management LLC now owns 2,633 shares of the company's stock worth $94,000 after acquiring an additional 293 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Par Pacific by 2.5% in the fourth quarter. GAMMA Investing LLC now owns 15,787 shares of the company's stock worth $555,000 after acquiring an additional 382 shares during the last quarter. Finally, Amundi increased its holdings in shares of Par Pacific by 3.6% during the third quarter. Amundi now owns 11,013 shares of the company's stock valued at $388,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PARR. The Goldman Sachs Group increased their price objective on shares of Par Pacific from $44.00 to $53.00 and gave the company a "neutral" rating in a research report on Thursday, March 12th. Zacks Research cut shares of Par Pacific from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 16th. TD Cowen boosted their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Par Pacific in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded Par Pacific from a "buy" rating to a "strong-buy" rating in a research note on Saturday, March 14th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Par Pacific has an average rating of "Hold" and a consensus target price of $55.50.

Insider Buying and Selling

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the company's stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the sale, the chief executive officer directly owned 457,167 shares of the company's stock, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.40% of the company's stock.

Par Pacific Price Performance

Shares of PARR opened at $65.71 on Friday. The firm has a fifty day simple moving average of $45.54 and a two-hundred day simple moving average of $41.04. The firm has a market cap of $3.25 billion, a PE ratio of 9.01 and a beta of 1.17. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54. Par Pacific Holdings, Inc. has a 1-year low of $12.04 and a 1-year high of $66.75.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The firm had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company posted ($0.79) EPS. The firm's revenue was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

About Par Pacific

Par Pacific Holdings, Inc NYSE: PARR is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.

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