Freestone Grove Partners LP Makes New $307,000 Investment in Par Pacific Holdings, Inc. (NYSE:PARR)

Freestone Grove Partners LP bought a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,704 shares of the company's stock, valued at approximately $307,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Par Pacific by 22.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock valued at $14,902,000 after buying an additional 167,594 shares during the period. Solas Capital Management LLC raised its position in shares of Par Pacific by 417.7% in the 4th quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock worth $13,030,000 after acquiring an additional 641,423 shares in the last quarter. Barclays PLC grew its stake in Par Pacific by 53.0% in the fourth quarter. Barclays PLC now owns 718,688 shares of the company's stock worth $11,779,000 after purchasing an additional 249,048 shares during the period. Northern Trust Corp grew its position in shares of Par Pacific by 8.6% in the 4th quarter. Northern Trust Corp now owns 626,984 shares of the company's stock worth $10,276,000 after buying an additional 49,750 shares during the period. Finally, Bridgewater Associates LP bought a new stake in Par Pacific during the fourth quarter worth about $9,293,000. Hedge funds and other institutional investors own 92.15% of the company's stock.

Par Pacific Price Performance

Par Pacific stock traded up $1.61 during mid-day trading on Wednesday, hitting $16.55. The stock had a trading volume of 2,816,621 shares, compared to its average volume of 1,092,843. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $29.94. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $899.51 million, a P/E ratio of 3.21 and a beta of 1.50. The firm's 50 day moving average is $13.85 and its 200 day moving average is $15.68.

Par Pacific (NYSE:PARR - Get Free Report) last released its earnings results on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.54). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. On average, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PARR. Piper Sandler dropped their price target on Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research report on Friday, March 7th. Raymond James initiated coverage on Par Pacific in a report on Friday, January 24th. They set an "outperform" rating and a $25.00 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, January 16th. StockNews.com lowered Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Finally, UBS Group decreased their price objective on shares of Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $20.68.

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.