Sanctuary Advisors LLC Invests $383,000 in Par Pacific Holdings, Inc. (NYSE:PARR)

Sanctuary Advisors LLC purchased a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,776 shares of the company’s stock, valued at approximately $383,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PARR. Pacer Advisors Inc. acquired a new position in shares of Par Pacific in the third quarter worth approximately $61,870,000. State Street Corp lifted its stake in shares of Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after acquiring an additional 328,325 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Par Pacific by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after acquiring an additional 17,509 shares during the period. Millennium Management LLC lifted its stake in shares of Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock worth $49,307,000 after acquiring an additional 636,908 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Par Pacific by 13.9% in the second 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. 92.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PARR has been the topic of a number of recent analyst reports. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group dropped their price target on Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised Par Pacific from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Tudor, Pickering, Holt & Co. lowered Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.50.

Par Pacific Price Performance

Shares of NYSE:PARR opened at $16.19 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84. Par Pacific Holdings, Inc. has a twelve month low of $14.84 and a twelve month high of $40.69. The stock’s 50 day moving average is $16.57 and its 200-day moving average is $20.17. The firm has a market capitalization of $905.86 million, a price-to-earnings ratio of 3.14 and a beta of 1.99.

Par Pacific (NYSE:PARR) last announced its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the prior year, the company posted $3.15 earnings per share. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 1.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is currently owned by corporate insiders.

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.