Par Pacific Holdings, Inc. $PARR Stock: Fulcrum Asset Management LLP Boosts Holdings

Fulcrum Asset Management LLP lifted its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 1,487.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 61,485 shares of the company’s stock after acquiring an additional 57,613 shares during the period. Fulcrum Asset Management LLP’s holdings in Par Pacific were worth $4,815,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of PARR. NewEdge Advisors LLC purchased a new stake in Par Pacific during the 1st quarter worth approximately $26,000. Carolina Wealth Advisors LLC acquired a new position in Par Pacific during the 3rd quarter valued at approximately $43,000. USA Financial Formulas acquired a new position in Par Pacific during the 3rd quarter valued at approximately $45,000. Fortitude Family Office LLC raised its holdings in shares of Par Pacific by 498.1% in the third quarter. Fortitude Family Office LLC now owns 616 shares of the company’s stock worth $50,000 after buying an additional 513 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Par Pacific by 32.0% in the first quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after buying an additional 173 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Price Performance

NYSE:PARR opened at $68.67 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.84 and a quick ratio of 0.76. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 3.60 and a beta of 0.82. The company has a 50 day moving average price of $80.53 and a 200-day moving average price of $64.89. Par Pacific Holdings, Inc. has a 1-year low of $34.37 and a 1-year high of $90.74.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, November 3rd. The company reported $10.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.65 by $4.05. Par Pacific had a net margin of 9.81% and a return on equity of 67.59%. The firm had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the business posted $5.95 EPS. The business’s revenue was up 51.6% compared to the same quarter last year. Equities research analysts forecast that Par Pacific Holdings, Inc. will post 27.23 EPS for the current year.

Insider Buying and Selling at Par Pacific

In other Par Pacific news, Director Timothy Clossey sold 10,970 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $84.00, for a total value of $921,480.00. Following the completion of the transaction, the director owned 51,526 shares in the company, valued at approximately $4,328,184. This represents a 17.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William Monteleone sold 40,000 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $81.30, for a total transaction of $3,252,000.00. Following the sale, the chief executive officer directly owned 457,167 shares in the company, valued at approximately $37,167,677.10. The trade was a 8.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PARR. The Goldman Sachs Group downgraded shares of Par Pacific from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $90.00 to $94.00 in a research note on Thursday, October 15th. Piper Sandler started coverage on shares of Par Pacific in a report on Tuesday, October 27th. They set a “neutral” rating and a $94.00 price objective on the stock. Weiss Ratings downgraded Par Pacific from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, November 2nd. Raymond James Financial restated an “outperform” rating and issued a $117.00 target price on shares of Par Pacific in a research note on Monday, October 19th. Finally, TD Cowen lowered their price target on Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Par Pacific presently has a consensus rating of “Moderate Buy” and an average price target of $90.43.

Par Pacific Profile

Par Pacific Holdings, Inc is an energy company focused on refining, logistics and retail operations. Its refining business produces transportation fuels and other petroleum products from crude oil and other feedstocks.

The company operates refineries in Hawaii, Washington and Wyoming. Its logistics operations support the movement and storage of crude oil and refined products, while its retail business sells fuel to customers, primarily in Hawaii.

Par Pacific was formed in 2012 and is headquartered in Houston, Texas.