BlueMountain Capital Management LLC lifted its holdings in shares of Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 10.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,607 shares of the oil and gas company’s stock after acquiring an additional 4,872 shares during the quarter. BlueMountain Capital Management LLC owned 0.11% of Par Pacific worth $862,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its stake in Par Pacific by 2.0% in the second quarter. BlackRock Inc. now owns 3,862,779 shares of the oil and gas company’s stock worth $67,135,000 after purchasing an additional 76,910 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Par Pacific by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,498,549 shares of the oil and gas company’s stock valued at $25,730,000 after acquiring an additional 234,188 shares during the period. LSV Asset Management boosted its stake in Par Pacific by 7.3% in the second quarter. LSV Asset Management now owns 1,226,506 shares of the oil and gas company’s stock valued at $21,316,000 after acquiring an additional 83,500 shares during the period. Park West Asset Management LLC boosted its stake in Par Pacific by 53.0% in the first quarter. Park West Asset Management LLC now owns 725,000 shares of the oil and gas company’s stock valued at $12,448,000 after acquiring an additional 251,097 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in Par Pacific by 12.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 583,754 shares of the oil and gas company’s stock valued at $10,146,000 after acquiring an additional 63,677 shares during the period. 83.57% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have commented on PARR. Cowen downgraded Par Pacific from an “outperform” rating to a “market perform” rating and set a $22.00 target price for the company. in a research note on Wednesday, September 12th. Zacks Investment Research cut Par Pacific from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 9th.
Shares of PARR traded up $0.06 during mid-day trading on Monday, reaching $19.32. 202,500 shares of the company’s stock traded hands, compared to its average volume of 234,511. The company has a quick ratio of 0.35, a current ratio of 1.09 and a debt-to-equity ratio of 0.71. Par Pacific Holdings, Inc. has a 12 month low of $16.42 and a 12 month high of $21.85.
Par Pacific (NYSEAMERICAN:PARR) last released its quarterly earnings results on Tuesday, August 7th. The oil and gas company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $856.40 million for the quarter, compared to analysts’ expectations of $654.70 million. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 1.33 earnings per share for the current year.
Par Pacific Profile
Par Pacific Holdings, Inc owns, manages, and maintains interests in energy and infrastructure businesses. It operates through three segments: Refining, Retail, and Logistics. The Refining segment operates a refinery that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, and other associated refined products.
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