Walleye Capital LLC Acquires 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 shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 365.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 424,549 shares of the company's stock after purchasing an additional 333,319 shares during the period. Walleye Capital LLC owned 0.82% of Par Pacific worth $6,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company's stock valued at $34,000 after purchasing an additional 986 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Par Pacific during the 1st quarter valued at $35,000. CWM LLC increased its holdings 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 in the last quarter. GAMMA Investing LLC increased its holdings 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 in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Par Pacific by 54.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company's stock valued at $117,000 after purchasing an additional 2,884 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Trading Up 2.5%

Shares of Par Pacific stock traded up $0.84 during trading on Friday, reaching $34.71. 1,698,994 shares of the company were exchanged, compared to its average volume of 1,693,770. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $35.32. The business has a 50-day moving average price of $30.67 and a 200-day moving average price of $21.69. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -123.96 and a beta of 1.82.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.54 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the firm earned $0.49 earnings per share. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. Sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PARR. Mizuho set a $34.00 price target on Par Pacific and gave the company a "neutral" rating in a report on Friday, July 11th. The Goldman Sachs Group cut Par Pacific from a "buy" rating to a "neutral" rating and set a $19.00 price target for the company. in a report on Wednesday, May 28th. Raymond James Financial set a $38.00 price target on Par Pacific and gave the company an "outperform" rating in a report on Tuesday, July 15th. Cowen reiterated a "buy" rating on shares of Par Pacific in a research report on Thursday, August 7th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $28.96.

Insider Activity at Par Pacific

In related news, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $27.97, for a total transaction of $144,437.08. Following the completion of the sale, the senior vice president directly owned 41,223 shares of the company's stock, valued at $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.40% of the stock is currently owned by company 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.