Par Pacific Holdings, Inc. (NYSE:PARR) Holdings Lifted by Portolan Capital Management LLC

Portolan Capital Management LLC grew its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 156.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 250,452 shares of the company’s stock after purchasing an additional 152,719 shares during the quarter. Portolan Capital Management LLC’s holdings in Par Pacific were worth $7,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PARR. NewEdge Advisors LLC bought a new stake in Par Pacific during the 1st quarter valued at $60,000. Captrust Financial Advisors raised its stake in shares of Par Pacific by 53.3% during the first quarter. Captrust Financial Advisors now owns 5,181 shares of the company’s stock valued at $67,000 after purchasing an additional 1,801 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Par Pacific by 12.8% in the first quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock worth $98,000 after purchasing an additional 854 shares during the period. Point72 Asset Management L.P. acquired a new stake in Par Pacific in the second quarter worth about $108,000. Finally, Point72 Hong Kong Ltd bought a new position in Par Pacific in the 2nd quarter valued at about $113,000. 92.83% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Price Performance

Shares of NYSE:PARR traded up $0.29 on Monday, reaching $37.08. 279,874 shares of the company traded hands, compared to its average volume of 886,305. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 0.37. Par Pacific Holdings, Inc. has a fifty-two week low of $14.42 and a fifty-two week high of $37.50. The stock has a market capitalization of $2.26 billion, a PE ratio of 3.60 and a beta of 2.08. The company’s 50 day moving average is $32.14 and its 200-day moving average is $27.49.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, August 7th. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.53. The company had revenue of $1.78 billion during the quarter, compared to analyst estimates of $1.57 billion. Par Pacific had a net margin of 8.45% and a return on equity of 73.08%. As a group, analysts anticipate that Par Pacific Holdings, Inc. will post 7.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PARR has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of Par Pacific from $36.00 to $46.00 and gave the stock an “overweight” rating in a research note on Friday, August 11th. The Goldman Sachs Group upped their target price on Par Pacific from $31.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, September 1st. Finally, StockNews.com downgraded Par Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $33.29.

Insiders Place Their Bets

In other news, President William Monteleone sold 14,063 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $34.98, for a total value of $491,923.74. Following the completion of the sale, the president now owns 309,720 shares in the company, valued at $10,834,005.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President William Monteleone sold 14,063 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $34.98, for a total value of $491,923.74. Following the transaction, the president now owns 309,720 shares in the company, valued at approximately $10,834,005.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Pate sold 115,099 shares of Par Pacific stock in a transaction on Monday, August 14th. The shares were sold at an average price of $34.85, for a total transaction of $4,011,200.15. Following the sale, the chief executive officer now directly owns 483,019 shares of the company’s stock, valued at approximately $16,833,212.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 132,287 shares of company stock worth $4,617,780. Corporate insiders own 4.90% of the company’s stock.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.