Meeder Asset Management Inc. Acquires Shares of 1,710 Par Pacific Holdings, Inc. (NYSE:PARR)

Meeder Asset Management Inc. acquired a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,710 shares of the company’s stock, valued at approximately $43,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its holdings in shares of Par Pacific by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock worth $36,254,000 after acquiring an additional 175,331 shares during the period. Headlands Technologies LLC grew its holdings in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock worth $29,000 after acquiring an additional 796 shares during the period. Quest Partners LLC grew its holdings in shares of Par Pacific by 141.3% in the 2nd quarter. Quest Partners LLC now owns 5,930 shares of the company’s stock worth $150,000 after acquiring an additional 3,472 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Par Pacific by 131.1% in the 2nd quarter. Victory Capital Management Inc. now owns 86,880 shares of the company’s stock worth $2,194,000 after acquiring an additional 49,286 shares during the period. Finally, Privium Fund Management UK Ltd grew its holdings in shares of Par Pacific by 67.3% in the 2nd quarter. Privium Fund Management UK Ltd now owns 22,817 shares of the company’s stock worth $586,000 after acquiring an additional 9,176 shares during the period. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Trading Up 1.9 %

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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. TD Cowen lowered their target price on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. lowered their target price on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 2nd. UBS Group lowered their target price on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a report on Monday, August 19th. Finally, Tudor, Pickering, Holt & Co. cut Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price 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.