Meeder Asset Management Inc. Buys 11,684 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Meeder Asset Management Inc. lifted its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 683.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,394 shares of the company’s stock after buying an additional 11,684 shares during the quarter. Meeder Asset Management Inc.’s holdings in Par Pacific were worth $236,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PARR. Headlands Technologies LLC grew its position 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 acquiring an additional 796 shares during the period. Quarry LP increased its position in Par Pacific by 610.5% during the second quarter. Quarry LP now owns 2,359 shares of the company’s stock worth $60,000 after buying an additional 2,027 shares during the last quarter. nVerses Capital LLC raised its stake in Par Pacific by 41.7% in the second quarter. nVerses Capital LLC now owns 3,400 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the period. Innealta Capital LLC acquired a new stake in shares of Par Pacific in the second quarter valued at approximately $104,000. Finally, Quest Partners LLC boosted its stake in shares of Par Pacific by 141.3% during the 2nd quarter. Quest Partners LLC now owns 5,930 shares of the company’s stock worth $150,000 after acquiring an additional 3,472 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PARR shares. Piper Sandler cut Par Pacific from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $23.00 in a research note on Friday, September 20th. The Goldman Sachs Group cut their target price on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. TD Cowen decreased their price target on shares of Par Pacific from $36.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Tudor, Pickering, Holt & Co. downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Mizuho decreased their target price on Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific has a consensus rating of “Hold” and an average price target of $28.00.

Par Pacific Stock Performance

Shares of NYSE:PARR opened at $17.06 on Wednesday. Par Pacific Holdings, Inc. has a 12-month low of $14.84 and a 12-month high of $40.69. The company’s 50 day moving average price is $17.55 and its two-hundred day moving average price is $22.24. The firm has a market cap of $954.51 million, a PE ratio of 3.31 and a beta of 1.99. The company has a quick ratio of 0.66, a current ratio of 1.69 and a debt-to-equity ratio of 0.84.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.15 earnings per share. Equities research analysts predict that Par Pacific Holdings, Inc. will post 0.95 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.