Massachusetts Financial Services Co. MA Purchases 3,005 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Massachusetts Financial Services Co. MA lifted its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,494 shares of the company’s stock after purchasing an additional 3,005 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.15% of Par Pacific worth $2,260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Headlands Technologies LLC raised its holdings in Par Pacific by 215.1% during the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after buying an additional 796 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Par Pacific by 91.4% during the fourth quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock worth $35,000 after acquiring an additional 458 shares during the period. Meeder Asset Management Inc. bought a new stake in Par Pacific in the 2nd quarter valued at $43,000. nVerses Capital LLC boosted its stake in Par Pacific by 41.7% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the period. Finally, Innealta Capital LLC bought a new position in Par Pacific during the 2nd quarter worth about $104,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

PARR has been the topic of a number of research reports. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. Mizuho cut their target price on Par Pacific from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. The Goldman Sachs Group decreased their price target on shares of Par Pacific from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Piper Sandler lowered shares of Par Pacific from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $23.00 in a research report on Friday. Finally, UBS Group reduced their target price on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a report on Monday, August 19th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Par Pacific currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Par Pacific Price Performance

NYSE:PARR opened at $19.35 on Monday. The stock has a market capitalization of $1.09 billion, a PE ratio of 2.42 and a beta of 1.99. Par Pacific Holdings, Inc. has a 1-year low of $18.00 and a 1-year high of $40.69. The firm has a fifty day simple moving average of $22.48 and a 200 day simple moving average of $27.63. The company has a current ratio of 1.63, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84.

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