Geode Capital Management LLC Grows Stock Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Geode Capital Management LLC boosted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,283,303 shares of the company’s stock after purchasing an additional 7,804 shares during the quarter. Geode Capital Management LLC’s holdings in Par Pacific were worth $22,591,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vestcor Inc purchased a new stake in Par Pacific during the third quarter valued at $375,000. Barclays PLC raised its stake in Par Pacific by 10.1% during the third quarter. Barclays PLC now owns 469,640 shares of the company’s stock valued at $8,265,000 after purchasing an additional 42,930 shares in the last quarter. Yaupon Capital Management LP raised its stake in shares of Par Pacific by 17.0% in the third quarter. Yaupon Capital Management LP now owns 604,828 shares of the company’s stock valued at $10,645,000 after acquiring an additional 87,881 shares during the period. Zacks Investment Management lifted its holdings in shares of Par Pacific by 14.1% in the 3rd quarter. Zacks Investment Management now owns 56,191 shares of the company’s stock worth $989,000 after acquiring an additional 6,947 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Par Pacific in the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Down 0.9 %

Shares of NYSE:PARR opened at $16.19 on Friday. Par Pacific Holdings, Inc. has a 52-week low of $14.84 and a 52-week high of $40.69. The stock has a market cap of $905.86 million, a P/E ratio of 3.14 and a beta of 1.99. The business’s 50 day moving average is $16.57 and its 200 day moving average is $20.17. 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 (NYSE:PARR) last announced its quarterly earnings data 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 company had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the firm earned $3.15 earnings per share. Par Pacific’s revenue was down 16.9% compared to the same quarter last year. Sell-side analysts predict that Par Pacific Holdings, Inc. will post 1.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PARR shares. The Goldman Sachs Group lowered their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, December 19th. Tudor Pickering raised Par Pacific to a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. raised 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. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and cut their target price for the company from $37.00 to $23.00 in a research note on Friday, September 20th. Finally, StockNews.com raised Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $26.50.

Insider Buying and Selling

In related news, Director William Pate sold 67,700 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is owned by insiders.

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.