KLP Kapitalforvaltning AS Makes New Investment in Par Pacific Holdings, Inc. (NYSE:PARR)

KLP Kapitalforvaltning AS acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 26,400 shares of the company’s stock, valued at approximately $433,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock worth $27,000 after acquiring an additional 1,167 shares during the last quarter. US Bancorp DE lifted its position in shares of Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock worth $42,000 after purchasing an additional 700 shares in the last quarter. Allworth Financial LP increased its holdings in Par Pacific by 4,804.2% in the fourth quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock valued at $139,000 after buying an additional 7,975 shares during the last quarter. Finally, FMR LLC raised its stake in Par Pacific by 126.7% in the third quarter. FMR LLC now owns 8,634 shares of the company’s stock valued at $152,000 after buying an additional 4,826 shares in the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PARR shares. StockNews.com cut Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. TD Cowen dropped their price target on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Piper Sandler cut their price objective on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Mizuho cut shares of Par Pacific from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $26.00 to $22.00 in a report on Monday, December 16th. Finally, The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $18.00 to $19.00 in a research note on Thursday, March 27th. 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 company. According to MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and a consensus target price of $22.71.

Par Pacific Stock Down 2.9 %

PARR stock opened at $12.89 on Friday. The company has a market cap of $705.70 million, a price-to-earnings ratio of 2.50 and a beta of 1.64. The company has a fifty day moving average price of $15.01 and a 200 day moving average price of $16.41. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $40.20.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). The business had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. Sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

About Par Pacific

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.