Navellier & Associates Inc. Buys 12,379 Shares of Par Pacific Holdings, Inc. $PARR

Navellier & Associates Inc. increased its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 201.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,531 shares of the company’s stock after buying an additional 12,379 shares during the quarter. Navellier & Associates Inc.’s holdings in Par Pacific were worth $1,039,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. acquired a new stake in shares of Par Pacific during the 2nd quarter worth approximately $66,000. Ninepoint Partners LP acquired a new position in shares of Par Pacific in the second quarter valued at $1,402,000. Bank of New York Mellon Corp bought a new position in Par Pacific in the second quarter worth $19,353,000. Birchbrook Inc. lifted its position in Par Pacific by 12.8% in the second quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock worth $190,000 after purchasing an additional 385 shares during the period. Finally, GK Wealth Management LLC acquired a new stake in Par Pacific during the second quarter worth $317,000. 92.15% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Danielle Mattiussi sold 3,278 shares of Par Pacific stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares in the company, valued at $1,875,910.62. The trade was a 10.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PARR shares. Evercore upgraded shares of Par Pacific to an “outperform” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group increased their price target on shares of Par Pacific from $77.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Weiss Ratings cut shares of Par Pacific from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday, May 17th. Finally, Zacks Research lowered Par Pacific from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 6th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $81.57.

Par Pacific Trading Up 2.8%

PARR opened at $79.22 on Friday. Par Pacific Holdings, Inc. has a 1-year low of $32.24 and a 1-year high of $87.03. The stock has a market capitalization of $3.97 billion, a PE ratio of 4.62 and a beta of 0.78. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $71.54 and a two-hundred day moving average price of $61.36.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.22 by $1.88. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.40 billion. Par Pacific had a net margin of 9.94% and a return on equity of 56.19%. Par Pacific’s quarterly revenue was up 56.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 earnings per share. As a group, equities analysts anticipate that Par Pacific Holdings, Inc. will post 21.33 earnings per share for the current fiscal year.

About Par Pacific

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.