Massachusetts Financial Services Co. MA Acquires 33,537 Shares of Par Pacific Holdings, Inc. $PARR

Massachusetts Financial Services Co. MA boosted its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 105.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 65,235 shares of the company’s stock after acquiring an additional 33,537 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Par Pacific were worth $2,292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PARR. Vanguard Group Inc. lifted its holdings in Par Pacific by 30.9% during the third quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock worth $178,680,000 after acquiring an additional 1,190,088 shares in the last quarter. SG Americas Securities LLC lifted its holdings in Par Pacific by 7,787.1% during the fourth quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock worth $19,816,000 after acquiring an additional 556,780 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Par Pacific by 42.8% in the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock valued at $53,923,000 after purchasing an additional 456,473 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Par Pacific by 22.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after purchasing an additional 317,484 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Par Pacific by 1,391.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 267,944 shares of the company’s stock valued at $9,491,000 after purchasing an additional 249,982 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO William Monteleone sold 108,948 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the transaction, the chief executive officer directly owned 457,167 shares of the company’s stock, valued at approximately $24,714,448.02. This represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.60% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE PARR opened at $57.27 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.61 and a quick ratio of 0.49. The business has a 50-day moving average of $53.10 and a 200-day moving average of $43.90. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 7.86 and a beta of 0.97. Par Pacific Holdings, Inc. has a fifty-two week low of $12.77 and a fifty-two week high of $67.39.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, February 24th. The company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a return on equity of 30.19% and a net margin of 4.95%.The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted ($0.79) EPS. The business’s revenue was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Raymond James Financial increased their price objective on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Mizuho boosted their target price on Par Pacific from $49.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 14th. The Goldman Sachs Group raised shares of Par Pacific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $53.00 to $77.00 in a research note on Friday, April 10th. Finally, TD Cowen lifted their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a report on Friday, February 27th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Par Pacific presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Par Pacific Company Profile

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.