First Trust Advisors LP Boosts Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

First Trust Advisors LP lifted its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 57.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 239,036 shares of the company's stock after buying an additional 87,002 shares during the period. First Trust Advisors LP owned about 0.43% of Par Pacific worth $3,918,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Par Pacific by 22.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock worth $14,902,000 after purchasing an additional 167,594 shares during the period. Sanctuary Advisors LLC increased its stake in Par Pacific by 126.2% in the 4th quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company's stock worth $843,000 after acquiring an additional 27,480 shares during the last quarter. Barclays PLC increased its position in shares of Par Pacific by 10.1% in the third quarter. Barclays PLC now owns 469,640 shares of the company's stock worth $8,265,000 after purchasing an additional 42,930 shares during the last quarter. Yorktown Management & Research Co Inc bought a new position in Par Pacific in the fourth quarter valued at $415,000. Finally, Empowered Funds LLC raised its holdings in shares of Par Pacific by 5.1% during the 4th quarter. Empowered Funds LLC now owns 313,768 shares of the company's stock valued at $5,143,000 after buying an additional 15,240 shares in the last quarter. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Piper Sandler cut their target price on Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. reduced their price target on Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, January 16th. UBS Group reduced their target price on Par Pacific from $20.00 to $14.75 and set a "neutral" rating for the company in a report on Wednesday, April 16th. TD Cowen decreased their price objective on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Raymond James initiated coverage on Par Pacific in a research report on Friday, January 24th. They issued an "outperform" rating and a $25.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $20.68.

Par Pacific Stock Performance

Shares of PARR stock traded up $1.44 during mid-day trading on Wednesday, reaching $16.38. The stock had a trading volume of 1,423,916 shares, compared to its average volume of 1,088,836. The business's fifty day moving average is $13.81 and its 200-day moving average is $15.67. The firm has a market cap of $890.00 million, a price-to-earnings ratio of 3.18 and a beta of 1.50. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $30.90. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.94) earnings per share 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 company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business posted $0.69 earnings per share. Par Pacific's revenue for the quarter was down 11.9% on a year-over-year basis. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share 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.