Rhumbline Advisers Boosts Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Rhumbline Advisers raised its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,643 shares of the company’s stock after purchasing an additional 6,102 shares during the period. Rhumbline Advisers owned about 0.31% of Par Pacific worth $4,485,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PARR. TD Asset Management Inc raised its position in shares of Par Pacific by 46.4% in the fourth quarter. TD Asset Management Inc now owns 104,400 shares of the company’s stock valued at $3,797,000 after buying an additional 33,100 shares during the last quarter. Acadian Asset Management LLC acquired a new position in Par Pacific in the 1st quarter valued at $978,000. Hennessy Advisors Inc. lifted its stake in shares of Par Pacific by 18.7% during the 1st quarter. Hennessy Advisors Inc. now owns 853,000 shares of the company’s stock worth $31,612,000 after purchasing an additional 134,600 shares during the period. Paragon Associates & Paragon Associates II Joint Venture acquired a new stake in shares of Par Pacific during the fourth quarter worth $1,637,000. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Par Pacific by 14.9% during the first quarter. Russell Investments Group Ltd. now owns 204,509 shares of the company’s stock worth $7,579,000 after purchasing an additional 26,485 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Par Pacific Trading Up 1.9 %

Shares of PARR stock opened at $18.70 on Monday. Par Pacific Holdings, Inc. has a fifty-two week low of $18.00 and a fifty-two week high of $40.69. The firm’s 50 day moving average price is $22.93 and its two-hundred day moving average price is $28.15. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 2.34 and a beta of 1.99. The company has a quick ratio of 0.59, a current ratio of 1.63 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, analysts anticipate that Par Pacific Holdings, Inc. will post 2.01 EPS for the current year.

Analysts Set New Price Targets

PARR has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their target price on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. TD Cowen lowered their target price on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating for the company in a report on Friday, August 9th. Tudor Pickering raised shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Finally, Mizuho started coverage on shares of Par Pacific in a research note on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Par Pacific has a consensus rating of “Hold” and an average price target of $33.17.

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.