Freestone Grove Partners LP Purchases Shares of 18,704 Par Pacific Holdings, Inc. (NYSE:PARR)

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

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp boosted its holdings in Par Pacific by 8.6% during the 4th quarter. Northern Trust Corp now owns 626,984 shares of the company's stock valued at $10,276,000 after acquiring an additional 49,750 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Par Pacific during the fourth quarter worth $2,607,000. Solas Capital Management LLC boosted its stake in shares of Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company's stock valued at $13,030,000 after purchasing an additional 641,423 shares during the period. Nebula Research & Development LLC grew its holdings in shares of Par Pacific by 36.9% in the fourth quarter. Nebula Research & Development LLC now owns 83,314 shares of the company's stock worth $1,366,000 after purchasing an additional 22,450 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Par Pacific by 10.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 59,812 shares of the company's stock worth $981,000 after buying an additional 5,489 shares during the period. Hedge funds and other institutional investors own 92.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PARR shares. Piper Sandler upped their target price on shares of Par Pacific from $21.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday. TD Cowen decreased their target price on Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. StockNews.com cut Par Pacific from a "hold" rating to a "sell" rating in a report on Friday, February 28th. The Goldman Sachs Group upgraded Par Pacific from a "neutral" rating to a "buy" rating and raised their price target for the company from $18.00 to $19.00 in a research note on Thursday, March 27th. Finally, Raymond James started coverage on shares of Par Pacific in a research note on Friday, January 24th. They issued an "outperform" rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $21.39.

Par Pacific Stock Up 2.2 %

Par Pacific stock traded up $0.38 during trading hours on Friday, reaching $17.91. The stock had a trading volume of 1,322,890 shares, compared to its average volume of 1,098,574. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $29.61. The company has a market cap of $973.43 million, a price-to-earnings ratio of 3.47 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The business's 50 day moving average price is $14.05 and its 200-day moving average price is $15.67.

Par Pacific (NYSE:PARR - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.54). The firm had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.49 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The company's revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 EPS. Sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS 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.