Charles Schwab Investment Management Inc. Increases Stock Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Charles Schwab Investment Management Inc. grew its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 22.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 909,220 shares of the company’s stock after purchasing an additional 167,594 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Par Pacific were worth $14,902,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. US Bancorp DE increased its position in shares of Par Pacific by 55.7% in the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after buying an additional 652 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Par Pacific in the fourth quarter valued at $236,000. New York State Common Retirement Fund increased its position in Par Pacific by 19.1% during the 4th quarter. New York State Common Retirement Fund now owns 28,694 shares of the company’s stock worth $470,000 after purchasing an additional 4,600 shares in the last quarter. Sanctuary Advisors LLC increased its position in Par Pacific by 126.2% during the 4th quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company’s stock worth $843,000 after purchasing an additional 27,480 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Par Pacific by 2.2% during the 4th quarter. Principal Financial Group Inc. now owns 271,242 shares of the company’s stock worth $4,446,000 after purchasing an additional 5,710 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. TD Cowen dropped their price objective on Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Mizuho cut Par Pacific from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $26.00 to $22.00 in a research report on Monday, December 16th. Piper Sandler dropped their price objective on Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. Finally, Raymond James assumed coverage on Par Pacific in a research report on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.57.

Par Pacific Stock Up 1.4 %

Shares of NYSE:PARR opened at $14.76 on Friday. The stock’s 50-day moving average price is $15.82 and its two-hundred day moving average price is $16.84. 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 Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $40.20. The firm has a market cap of $807.81 million, a price-to-earnings ratio of 2.86 and a beta of 2.01.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). The business had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.68 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

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.