Walleye Capital LLC Buys 333,319 Shares of Par Pacific Holdings, Inc. $PARR

Key Points

• Walleye Capital LLC increased its stake in Par Pacific Holdings by 365.4%, acquiring an additional 333,319 shares, bringing their total holding to 424,549 shares valued at approximately $6.05 million.
• Par Pacific reported $1.54 earnings per share for the last quarter, significantly exceeding the analysts' consensus estimate of $0.74, with revenue of $1.89 billion.
• Analysts have mixed ratings for Par Pacific, with one strong buy, five buy, and five hold ratings, and a consensus price target of $28.96.

Walleye Capital LLC boosted its holdings in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 365.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 424,549 shares of the company's stock after acquiring an additional 333,319 shares during the quarter. Walleye Capital LLC owned 0.82% of Par Pacific worth $6,054,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Millennium Management LLC increased its stake in Par Pacific by 43.4% in the 4th quarter. Millennium Management LLC now owns 1,936,798 shares of the company's stock worth $31,744,000 after acquiring an additional 586,003 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Par Pacific by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock worth $17,194,000 after acquiring an additional 296,536 shares during the last quarter. Invesco Ltd. increased its stake in Par Pacific by 6.2% in the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock worth $16,500,000 after acquiring an additional 67,481 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Par Pacific by 9.8% in the 4th quarter. Nuveen Asset Management LLC now owns 1,029,798 shares of the company's stock worth $16,878,000 after acquiring an additional 91,814 shares during the last quarter. Finally, Nuveen LLC bought a new position in Par Pacific in the 1st quarter worth about $12,750,000. 92.15% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler increased their price objective on Par Pacific from $26.00 to $38.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Mizuho set a $34.00 price objective on Par Pacific and gave the company a "neutral" rating in a research report on Friday, July 11th. Cowen reiterated a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. Wall Street Zen cut Par Pacific from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 17th. Finally, Raymond James Financial set a $38.00 target price on Par Pacific and gave the company an "outperform" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.96.

Par Pacific Trading Down 0.8%

NYSE PARR traded down $0.28 on Thursday, hitting $33.90. The company's stock had a trading volume of 1,585,789 shares, compared to its average volume of 1,676,244. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.32. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97. The company's 50-day simple moving average is $30.53 and its 200 day simple moving average is $21.49. The firm has a market cap of $1.72 billion, a P/E ratio of -121.05 and a beta of 1.83.

Par Pacific (NYSE:PARR - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.89 billion during the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter last year, the business posted $0.49 EPS. The business's revenue was down 6.2% on a year-over-year basis. Research analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Insider Activity at Par Pacific

In other news, SVP Terrill Pitkin sold 5,164 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total value of $144,437.08. Following the completion of the transaction, the senior vice president owned 41,223 shares in the company, valued at $1,153,007.31. This trade represents a 11.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.40% of the stock is currently owned by insiders.

Par Pacific Company 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.