MQS Management LLC Invests $490,000 in Par Pacific Holdings, Inc. (NYSE:PARR)

MQS Management LLC bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the first quarter, Holdings Channel reports. The institutional investor bought 13,217 shares of the company’s stock, valued at approximately $490,000.

A number of other institutional investors have also modified their holdings of the business. McGlone Suttner Wealth Management Inc. acquired a new position in Par Pacific in the 4th quarter valued at $30,000. Quadrant Capital Group LLC increased its stake in Par Pacific by 91.4% in the 4th quarter. Quadrant Capital Group LLC now owns 959 shares of the company’s stock valued at $35,000 after buying an additional 458 shares during the period. Navellier & Associates Inc. acquired a new position in Par Pacific in the 4th quarter valued at $221,000. PNC Financial Services Group Inc. increased its stake in Par Pacific by 17.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,920 shares of the company’s stock valued at $252,000 after buying an additional 1,024 shares during the period. Finally, Range Financial Group LLC increased its stake in Par Pacific by 9.8% in the 1st quarter. Range Financial Group LLC now owns 6,817 shares of the company’s stock valued at $253,000 after buying an additional 608 shares during the period. 92.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PARR has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Piper Sandler lowered their price target on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Mizuho assumed coverage on shares of Par Pacific in a research note on Wednesday, July 17th. They set an “outperform” rating and a $33.00 price target on the stock. Finally, TD Cowen lowered their price target on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $35.67.

Par Pacific Price Performance

Shares of Par Pacific stock traded up $0.92 on Thursday, hitting $24.82. The company’s stock had a trading volume of 664,063 shares, compared to its average volume of 819,542. Par Pacific Holdings, Inc. has a 52-week low of $22.77 and a 52-week high of $40.69. The company has a quick ratio of 0.50, a current ratio of 1.28 and a debt-to-equity ratio of 0.49. The firm has a fifty day moving average price of $25.26 and a 200-day moving average price of $31.84. The company has a market capitalization of $1.44 billion, a P/E ratio of 3.11 and a beta of 2.01.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.12 billion. On average, equities research analysts expect that Par Pacific Holdings, Inc. will post 1.5 earnings per share for the current fiscal year.

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.