Creative Planning Boosts Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Creative Planning boosted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 246.2% during the third quarter, Holdings Channel reports. The firm owned 33,014 shares of the company’s stock after acquiring an additional 23,478 shares during the quarter. Creative Planning’s holdings in Par Pacific were worth $581,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Par Pacific by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock valued at $53,956,000 after buying an additional 17,509 shares during the period. Millennium Management LLC boosted its holdings in Par Pacific by 48.4% in the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after acquiring an additional 636,908 shares in the last quarter. American Century Companies Inc. increased its position in Par Pacific by 13.9% during the 2nd quarter. American Century Companies Inc. now owns 1,435,794 shares of the company’s stock valued at $36,254,000 after purchasing an additional 175,331 shares during the period. Bridgeway Capital Management LLC increased its position in Par Pacific by 2.6% during the 1st quarter. Bridgeway Capital Management LLC now owns 647,880 shares of the company’s stock valued at $24,010,000 after purchasing an additional 16,653 shares during the period. Finally, Thomist Capital Management LP raised its holdings in Par Pacific by 50.0% in the 2nd quarter. Thomist Capital Management LP now owns 559,277 shares of the company’s stock worth $13,095,000 after purchasing an additional 186,411 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PARR shares. JPMorgan Chase & Co. raised shares of Par Pacific from a “neutral” rating to an “overweight” rating and cut their target price for the company from $36.00 to $30.00 in a research note on Wednesday, October 2nd. Tudor Pickering upgraded Par Pacific to a “hold” rating in a report on Monday, September 9th. Mizuho decreased their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Wednesday, October 9th. TD Cowen dropped their price target on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Piper Sandler downgraded Par Pacific from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.00.

Par Pacific Trading Up 1.3 %

Shares of NYSE PARR opened at $15.82 on Tuesday. The firm’s 50 day moving average price is $18.49 and its 200-day moving average price is $23.40. Par Pacific Holdings, Inc. has a 52-week low of $15.31 and a 52-week high of $40.69. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.59 and a current ratio of 1.63. The company has a market cap of $891.14 million, a PE ratio of 2.02 and a beta of 1.99.

Par Pacific (NYSE:PARR) last released its quarterly earnings data 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 firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company earned $1.73 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities research analysts expect that Par Pacific Holdings, Inc. will post 0.76 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.