Oliver Luxxe Assets LLC Takes Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Oliver Luxxe Assets LLC purchased a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,302 shares of the company’s stock, valued at approximately $530,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Par Pacific during the 4th quarter valued at $30,000. Quadrant Capital Group LLC grew its stake in shares of Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after acquiring an additional 458 shares in the last quarter. Navellier & Associates Inc. bought a new stake in shares of Par Pacific in the 4th quarter worth $221,000. Range Financial Group LLC grew its stake in shares of Par Pacific by 9.8% in the 1st quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock worth $253,000 after acquiring an additional 608 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Par Pacific by 17.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock worth $252,000 after acquiring an additional 1,024 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $25.30 on Tuesday. The company’s 50-day moving average is $27.47 and its 200 day moving average is $33.23. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.50 and a current ratio of 1.28. The company has a market capitalization of $1.47 billion, a P/E ratio of 3.17 and a beta of 2.01. Par Pacific Holdings, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $40.69.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). The company had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. On average, equities research analysts forecast that Par Pacific Holdings, Inc. will post 2.92 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Piper Sandler reduced their target price on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. StockNews.com lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, TD Cowen reduced their target price on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.25.

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.