Ninepoint Partners LP Makes New $1.40 Million Investment in Par Pacific Holdings, Inc. $PARR

Ninepoint Partners LP acquired a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the second quarter, Holdings Channel.com reports. The fund acquired 25,000 shares of the company’s stock, valued at approximately $1,402,000.

Several other large investors have also modified their holdings of PARR. EverSource Wealth Advisors LLC grew its holdings in shares of Par Pacific by 32.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 713 shares of the company’s stock worth $45,000 after acquiring an additional 173 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Par Pacific by 2.8% during the fourth quarter. Natixis Advisors LLC now owns 11,102 shares of the company’s stock valued at $390,000 after purchasing an additional 299 shares during the last quarter. Birchbrook Inc. boosted its position in shares of Par Pacific by 12.8% in the 2nd quarter. Birchbrook Inc. now owns 3,385 shares of the company’s stock valued at $190,000 after purchasing an additional 385 shares during the period. Amundi boosted its position in shares of Par Pacific by 3.6% in the 3rd quarter. Amundi now owns 11,013 shares of the company’s stock valued at $388,000 after purchasing an additional 386 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in Par Pacific in the 1st quarter worth about $26,000. 92.15% of the stock is owned by institutional investors.

Par Pacific Price Performance

PARR opened at $72.20 on Friday. The stock has a fifty day moving average price of $68.63 and a 200 day moving average price of $59.97. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Par Pacific Holdings, Inc. has a 1 year low of $27.84 and a 1 year high of $87.03. The stock has a market cap of $3.62 billion, a price-to-earnings ratio of 4.21 and a beta of 0.78.

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group boosted their price objective on Par Pacific from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of Par Pacific from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Benchmark restated a “buy” rating on shares of Par Pacific in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group upped their price target on shares of Par Pacific from $77.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.57.

Insider Activity at Par Pacific

In related news, insider Danielle Mattiussi sold 3,278 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $67.29, for a total value of $220,576.62. Following the completion of the sale, the insider owned 27,878 shares of the company’s stock, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.60% of the company’s stock.

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.