Northern Trust Corp Increases Stock Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

Northern Trust Corp grew its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 626,984 shares of the company’s stock after buying an additional 49,750 shares during the quarter. Northern Trust Corp’s holdings in Par Pacific were worth $10,276,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. US Bancorp DE boosted its stake in shares of Par Pacific by 55.7% during the fourth quarter. US Bancorp DE now owns 1,823 shares of the company’s stock valued at $30,000 after acquiring an additional 652 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Par Pacific by 37.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after acquiring an additional 700 shares during the last quarter. Inspire Investing LLC boosted its stake in shares of Par Pacific by 4.6% during the fourth quarter. Inspire Investing LLC now owns 24,201 shares of the company’s stock valued at $397,000 after acquiring an additional 1,066 shares during the last quarter. Mariner LLC boosted its stake in shares of Par Pacific by 7.7% during the fourth quarter. Mariner LLC now owns 15,136 shares of the company’s stock valued at $248,000 after acquiring an additional 1,086 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Par Pacific by 0.8% during the fourth quarter. Legal & General Group Plc now owns 150,322 shares of the company’s stock valued at $2,464,000 after acquiring an additional 1,156 shares during 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 research firms recently commented on PARR. Raymond James began coverage on Par Pacific in a research note on Friday, January 24th. They set an “outperform” rating and a $25.00 price objective on the stock. Mizuho raised their price target on Par Pacific from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. The Goldman Sachs Group raised Par Pacific from a “neutral” rating to a “buy” rating and raised their price target for the stock from $18.00 to $19.00 in a research note on Thursday, March 27th. TD Cowen decreased their price target on Par Pacific from $21.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, Piper Sandler raised their price target on Par Pacific from $21.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, May 8th. One equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.25.

Par Pacific Stock Up 0.4%

Shares of NYSE:PARR opened at $20.66 on Friday. The stock’s 50-day moving average price is $14.72 and its two-hundred day moving average price is $15.78. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 4.00 and a beta of 1.50. 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 $28.89.

Par Pacific (NYSE:PARR) last released its quarterly earnings data on Monday, May 5th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.54). The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.69 earnings per share. On average, research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current 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.