Par Pacific Holdings, Inc. (NYSE:PARR) Shares Bought by Vestcor Inc

Key Points

• Vestcor Inc increased its stake in Par Pacific Holdings, Inc. by 69.5% in Q1, owning 36,100 shares valued at $515,000 as reported in its latest SEC filing.
• Multiple hedge funds, including Millennium Management LLC and Solas Capital Management LLC, also significantly boosted their positions in Par Pacific during the fourth quarter.
• Par Pacific's stock rating has shifted, with analysts giving it a "sell" rating and price targets ranging from $14.75 to $38.00, indicating varied investor sentiment.

Vestcor Inc lifted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 69.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,100 shares of the company's stock after acquiring an additional 14,800 shares during the quarter. Vestcor Inc owned about 0.07% of Par Pacific worth $515,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Par Pacific during the 1st quarter valued at $194,000. Allspring Global Investments Holdings LLC lifted its position in Par Pacific by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,601 shares of the company's stock worth $265,000 after acquiring an additional 6,522 shares during the last quarter. 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 worth $108,000 after acquiring an additional 5,887 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Par Pacific during the 1st quarter worth about $219,000. Finally, GF Fund Management CO. LTD. bought a new position in shares of Par Pacific during the 4th quarter worth about $286,000. 92.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PARR. UBS Group lowered their target price on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. 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. Raymond James Financial set a $38.00 target price on shares of Par Pacific and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Wall Street Zen lowered shares of Par Pacific from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. Finally, TD Cowen lowered their price objective on shares of Par Pacific from $35.00 to $33.00 and set a "buy" rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $28.96.

Par Pacific Stock Performance

Shares of NYSE:PARR traded up $0.14 during trading on Thursday, hitting $27.23. The company's stock had a trading volume of 950,990 shares, compared to its average volume of 1,382,212. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $35.32. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of -97.96 and a beta of 1.83. The company has a 50-day moving average of $28.42 and a 200-day moving average of $20.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.56 and a quick ratio of 0.54.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.80. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.77%. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the firm posted $0.49 earnings per share. Par Pacific's revenue for the quarter was down 6.2% compared to the same quarter last year. 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.