Vestcor Inc Takes $375,000 Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Vestcor Inc acquired a new position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 21,300 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors have also recently bought and sold shares of the company. Headlands Technologies LLC grew its stake in shares of Par Pacific by 215.1% in the 2nd quarter. Headlands Technologies LLC now owns 1,166 shares of the company’s stock valued at $29,000 after buying an additional 796 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Par Pacific in the second quarter worth approximately $43,000. Quarry LP increased its stake in shares of Par Pacific by 610.5% during the 2nd quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after purchasing an additional 2,027 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of Par Pacific by 41.7% during the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in shares of Par Pacific in the 2nd quarter valued at $104,000. Institutional investors and hedge funds own 92.15% of the company’s stock.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $16.46 on Friday. The firm has a market capitalization of $920.97 million, a price-to-earnings ratio of 3.19 and a beta of 1.99. Par Pacific Holdings, Inc. has a one year low of $14.84 and a one year high of $40.69. The business has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $20.87. The company has a current ratio of 1.69, a quick ratio of 0.66 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last issued its earnings results on Monday, November 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the previous year, the business earned $3.15 EPS. The firm’s revenue was down 16.9% on a year-over-year basis. Sell-side analysts expect that Par Pacific Holdings, Inc. will post 0.83 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. UBS Group reduced their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating for the company in a research report on Monday, August 19th. Piper Sandler lowered Par Pacific from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Tudor, Pickering, Holt & Co. downgraded Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, September 9th. StockNews.com upgraded shares of Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research note on Monday, September 9th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Insider Buying and Selling at Par Pacific

In related news, Director William Pate sold 67,700 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares of the company’s stock, valued at $8,509,174.20. This trade represents a 11.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.40% of the company’s stock.

Par Pacific Company 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.