Hennessy Advisors Inc. Increases Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Hennessy Advisors Inc. increased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 18.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 853,000 shares of the company’s stock after acquiring an additional 134,600 shares during the period. Par Pacific comprises approximately 1.3% of Hennessy Advisors Inc.’s holdings, making the stock its 17th largest position. Hennessy Advisors Inc. owned approximately 1.44% of Par Pacific worth $31,612,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in PARR. Janney Montgomery Scott LLC raised its stake in Par Pacific by 4.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 8,297 shares of the company’s stock valued at $298,000 after buying an additional 388 shares during the last quarter. HighTower Advisors LLC raised its stake in Par Pacific by 153.4% during the 3rd quarter. HighTower Advisors LLC now owns 20,433 shares of the company’s stock valued at $727,000 after buying an additional 12,369 shares during the last quarter. Rhumbline Advisers raised its stake in Par Pacific by 1.5% during the 3rd quarter. Rhumbline Advisers now owns 185,175 shares of the company’s stock valued at $6,655,000 after buying an additional 2,817 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in Par Pacific by 39.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 49,890 shares of the company’s stock valued at $1,793,000 after buying an additional 14,238 shares during the last quarter. Finally, MQS Management LLC bought a new stake in shares of Par Pacific during the 3rd quarter valued at $297,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PARR. TD Cowen cut their price objective on shares of Par Pacific from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Finally, Piper Sandler dropped their target price on shares of Par Pacific from $43.00 to $37.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.25.

Par Pacific Price Performance

Shares of NYSE PARR traded up $0.37 during mid-day trading on Friday, hitting $25.09. 623,825 shares of the company’s stock traded hands, compared to its average volume of 814,220. The company’s 50-day moving average is $27.74 and its two-hundred day moving average is $33.36. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.28 and a quick ratio of 0.50. The company has a market capitalization of $1.45 billion, a P/E ratio of 3.17 and a beta of 1.99. Par Pacific Holdings, Inc. has a 1 year low of $23.78 and a 1 year high of $40.69.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Par Pacific had a return on equity of 35.02% and a net margin of 5.71%. The firm had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.12 billion. On average, equities analysts anticipate that Par Pacific Holdings, Inc. will post 3.69 EPS for the current fiscal 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.