Wells Fargo & Company MN Increases Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Wells Fargo & Company MN raised its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,855 shares of the company’s stock after acquiring an additional 6,238 shares during the quarter. Wells Fargo & Company MN’s holdings in Par Pacific were worth $555,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PARR. Charles Schwab Investment Management Inc. lifted its stake in shares of Par Pacific by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company’s stock valued at $14,902,000 after purchasing an additional 167,594 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of 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 acquiring an additional 27,480 shares in the last quarter. Barclays PLC grew its position in shares of Par Pacific by 10.1% during the 3rd quarter. Barclays PLC now owns 469,640 shares of the company’s stock valued at $8,265,000 after acquiring an additional 42,930 shares during the period. Yorktown Management & Research Co Inc acquired a new position in Par Pacific in the 4th quarter worth about $415,000. Finally, Empowered Funds LLC boosted its position in Par Pacific by 5.1% during the fourth quarter. Empowered Funds LLC now owns 313,768 shares of the company’s stock worth $5,143,000 after purchasing an additional 15,240 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

PARR has been the subject of several research analyst reports. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and upped their target price for the stock from $18.00 to $19.00 in a research note on Thursday, March 27th. StockNews.com cut Par Pacific from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. UBS Group lowered their target price on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. TD Cowen reduced their target price on shares of Par Pacific from $21.00 to $17.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler lowered their price target on shares of Par Pacific from $25.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.68.

Par Pacific Price Performance

Par Pacific stock opened at $14.38 on Friday. The company has a 50-day moving average price of $13.77 and a 200 day moving average price of $15.73. The stock has a market cap of $781.57 million, a P/E ratio of 2.79 and a beta of 1.64. 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 $31.38.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) 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 net margin of 3.74% and a return on equity of 10.06%. Sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 earnings per share 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.