Innealta Capital LLC Acquires New Shares in Par Pacific Holdings, Inc. (NYSE:PARR)

Innealta Capital LLC acquired a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,109 shares of the company’s stock, valued at approximately $104,000.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Par Pacific by 42.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,431 shares of the company’s stock worth $454,000 after purchasing an additional 3,730 shares in the last quarter. Yousif Capital Management LLC lifted its stake in Par Pacific by 9.8% during the fourth quarter. Yousif Capital Management LLC now owns 30,476 shares of the company’s stock worth $1,108,000 after purchasing an additional 2,712 shares in the last quarter. Islay Capital Management LLC lifted its stake in Par Pacific by 28.7% during the fourth quarter. Islay Capital Management LLC now owns 28,400 shares of the company’s stock worth $1,033,000 after purchasing an additional 6,331 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Par Pacific by 20.2% during the fourth quarter. Victory Capital Management Inc. now owns 24,852 shares of the company’s stock worth $904,000 after purchasing an additional 4,184 shares in the last quarter. Finally, Beacon Harbor Wealth Advisors Inc. lifted its stake in Par Pacific by 3.1% during the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 136,261 shares of the company’s stock worth $4,956,000 after purchasing an additional 4,080 shares in the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Par Pacific Stock Performance

Shares of PARR stock traded up $0.38 during midday trading on Friday, hitting $22.43. The company had a trading volume of 856,091 shares, compared to its average volume of 839,433. The company’s 50 day simple moving average is $23.99 and its 200 day simple moving average is $29.77. Par Pacific Holdings, Inc. has a 52-week low of $21.31 and a 52-week high of $40.69. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 2.76 and a beta of 2.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.82 billion. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm earned $1.73 EPS. Research analysts anticipate that Par Pacific Holdings, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group decreased their price target on Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research note on Monday, August 19th. The Goldman Sachs Group reduced their price objective on Par Pacific from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. TD Cowen reduced their price objective on Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Piper Sandler cut their price target on Par Pacific from $43.00 to $37.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. cut their price target on Par Pacific from $38.00 to $36.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 2nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Par Pacific has a consensus rating of “Hold” and an average price target of $33.17.

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.