Wealth Enhancement Advisory Services LLC Purchases Shares of 16,682 Par Pacific Holdings, Inc. $PARR

Key Points

• Wealth Enhancement Advisory Services LLC acquired 16,682 shares of Par Pacific Holdings, Inc. ($PARR) valued at approximately $443,000 during the second quarter.
• Institutional investors own 92.15% of Par Pacific's stock, with significant stake increases from firms like Charles Schwab and Invesco.
• Analysts have mixed views on the stock; while some downgraded their price targets, others maintained or upgraded their ratings, leading to a consensus rating of "Moderate Buy."

Wealth Enhancement Advisory Services LLC bought a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 16,682 shares of the company's stock, valued at approximately $443,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PARR. Charles Schwab Investment Management Inc. increased its stake in Par Pacific by 32.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,205,756 shares of the company's stock valued at $17,194,000 after acquiring an additional 296,536 shares during the last quarter. Invesco Ltd. increased its position in Par Pacific by 6.2% during the 1st quarter. Invesco Ltd. now owns 1,157,058 shares of the company's stock worth $16,500,000 after purchasing an additional 67,481 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Par Pacific during the 1st quarter valued at $12,750,000. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Par Pacific by 1.5% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 812,410 shares of the company's stock valued at $11,585,000 after buying an additional 12,170 shares during the period. Finally, Algert Global LLC boosted its position in shares of Par Pacific by 27.3% during the 1st quarter. Algert Global LLC now owns 596,473 shares of the company's stock valued at $8,506,000 after purchasing an additional 127,792 shares in the last quarter. 92.15% of the stock is owned by institutional investors.

Insider Activity

In other Par Pacific news, insider Shawn David Flores sold 8,062 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $34.50, for a total value of $278,139.00. Following the transaction, the insider directly owned 39,089 shares of the company's stock, valued at $1,348,570.50. This trade represents a 17.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Terrill Pitkin sold 5,164 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $27.97, for a total transaction of $144,437.08. Following the transaction, the senior vice president directly owned 41,223 shares in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,954 shares of company stock worth $863,048. Company insiders own 4.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. 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 report on Thursday, August 7th. Zacks Research downgraded Par Pacific from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 22nd. Raymond James Financial increased their target price on Par Pacific from $36.00 to $38.00 and gave the company an "outperform" rating in a research note on Tuesday, September 9th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Par Pacific in a research note on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Par Pacific from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 13th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.86.

Par Pacific Stock Up 2.4%

PARR stock opened at $35.15 on Tuesday. The firm's fifty day simple moving average is $32.86 and its 200-day simple moving average is $25.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The company has a market capitalization of $1.79 billion, a P/E ratio of -125.53 and a beta of 1.74. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $38.60.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same period in the previous year, the company posted $0.49 earnings per share. Par Pacific's revenue for the quarter was down 6.2% on a year-over-year basis. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

About Par Pacific

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.

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