Summit Global Investments Buys 7,791 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Summit Global Investments raised its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 28.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 35,182 shares of the company’s stock after purchasing an additional 7,791 shares during the quarter. Summit Global Investments’ holdings in Par Pacific were worth $1,280,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. raised its position in shares of Par Pacific by 14.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after acquiring an additional 154,571 shares during the last quarter. Boston Partners grew its holdings in shares of Par Pacific by 6.6% in the 3rd quarter. Boston Partners now owns 1,127,022 shares of the company’s stock valued at $40,016,000 after buying an additional 69,475 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Par Pacific by 5,017.3% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,454 shares of the company’s stock valued at $1,418,000 after buying an additional 38,683 shares during the period. Hsbc Holdings PLC grew its holdings in shares of Par Pacific by 12.1% in the 3rd quarter. Hsbc Holdings PLC now owns 258,976 shares of the company’s stock valued at $9,355,000 after buying an additional 28,023 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Par Pacific in the 3rd quarter valued at $881,000. Institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Down 0.5 %

NYSE PARR traded down $0.17 on Friday, reaching $30.84. The company had a trading volume of 595,952 shares, compared to its average volume of 727,533. The company’s fifty day moving average is $35.57 and its 200-day moving average is $35.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.54 and a current ratio of 1.30. Par Pacific Holdings, Inc. has a 1-year low of $20.30 and a 1-year high of $40.69. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 2.58 and a beta of 1.98.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). Par Pacific had a return on equity of 47.63% and a net margin of 8.85%. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.45 billion. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

PARR has been the subject of several research analyst reports. StockNews.com lowered shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Piper Sandler boosted their price target on shares of Par Pacific from $43.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Par Pacific presently has a consensus rating of “Hold” and an average target price of $36.75.

Insiders Place Their Bets

In other Par Pacific news, CAO Ivan Daniel Guerra sold 6,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total transaction of $224,940.00. Following the sale, the chief accounting officer now directly owns 16,200 shares of the company’s stock, valued at approximately $607,338. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Jeffrey Ryan Hollis sold 4,700 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total value of $175,733.00. Following the sale, the insider now directly owns 13,176 shares of the company’s stock, valued at approximately $492,650.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Ivan Daniel Guerra sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the sale, the chief accounting officer now directly owns 16,200 shares in the company, valued at $607,338. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

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.