UBS Group AG Has $14.40 Million Stake in Par Pacific Holdings, Inc. $PARR

Key Points

• UBS Group AG sharply increased its stake in Par Pacific Holdings by 63.7% in the fourth quarter, ending with 409,776 shares worth about $14.4 million. Institutional ownership remains very high at 92.15% of the stock.
• Par Pacific posted mixed quarterly results, with revenue of $1.82 billion topping estimates but EPS of $0.78 missing the consensus $1.00. Revenue rose 4.5% year over year, and analysts still expect full-year EPS of 13.72.
• Wall Street sentiment is generally positive, with Goldman Sachs and Raymond James both raising price targets to $77 and several firms issuing buy ratings. The stock currently carries an average “Moderate Buy” rating and a $67 average target price.

UBS Group AG boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 63.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 409,776 shares of the company's stock after purchasing an additional 159,399 shares during the period. UBS Group AG owned about 0.81% of Par Pacific worth $14,400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PARR. Royal Bank of Canada increased its holdings in Par Pacific by 23.9% in the first quarter. Royal Bank of Canada now owns 23,453 shares of the company's stock valued at $334,000 after purchasing an additional 4,525 shares during the period. AQR Capital Management LLC grew its holdings in Par Pacific by 118.2% during the 1st 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Par Pacific by 4.6% during the 1st 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Par Pacific by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company's stock worth $2,085,000 after acquiring an additional 6,618 shares during the period. Finally, Jane Street Group LLC grew its holdings in Par Pacific by 352.7% during the 1st quarter. Jane Street Group LLC now owns 270,835 shares of the company's stock worth $3,862,000 after acquiring an additional 211,002 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Performance

Shares of PARR opened at $60.42 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The stock has a 50-day moving average of $60.00 and a 200-day moving average of $47.18. The company has a market cap of $3.03 billion, a PE ratio of 6.74 and a beta of 0.91. Par Pacific Holdings, Inc. has a one year low of $18.78 and a one year high of $70.39.

Par Pacific (NYSE:PARR - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.94) earnings per share. On average, equities research analysts predict that Par Pacific Holdings, Inc. will post 13.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PARR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and increased their price target for the stock from $53.00 to $77.00 in a report on Friday, April 10th. Raymond James Financial increased their price target on Par Pacific from $50.00 to $77.00 and gave the stock an "outperform" rating in a report on Wednesday, March 25th. Wall Street Zen downgraded Par Pacific from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. Zacks Research upgraded Par Pacific from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Par Pacific in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Par Pacific currently has an average rating of "Moderate Buy" and an average target price of $67.00.

Insider Activity at Par Pacific

In other news, CEO William Monteleone sold 108,948 shares of the firm's stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer directly owned 457,167 shares in the company, valued at $24,714,448.02. This trade represents a 19.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 3.60% of the stock is currently owned by corporate insiders.

Par Pacific Profile

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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