Norges Bank Acquires New Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Norges Bank bought a new stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 157,000 shares of the company's stock, valued at approximately $2,573,000. Norges Bank owned 0.28% of Par Pacific at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PARR. FMR LLC increased its position in Par Pacific by 126.7% during the 3rd quarter. FMR LLC now owns 8,634 shares of the company's stock valued at $152,000 after buying an additional 4,826 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Par Pacific by 7.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 127,732 shares of the company's stock valued at $2,248,000 after buying an additional 8,844 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Par Pacific in the 3rd quarter worth approximately $197,000. Janus Henderson Group PLC increased its holdings in Par Pacific by 21.7% in the third quarter. Janus Henderson Group PLC now owns 44,342 shares of the company's stock valued at $781,000 after buying an additional 7,903 shares in the last quarter. Finally, State Street Corp grew its holdings in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company's stock valued at $60,919,000 after purchasing an additional 328,325 shares during the period. Institutional investors own 92.15% of the company's stock.

Par Pacific Stock Performance

Par Pacific stock traded up $0.57 during mid-day trading on Thursday, hitting $13.14. 152,171 shares of the company's stock traded hands, compared to its average volume of 1,062,518. The firm has a 50 day moving average price of $14.24 and a 200 day moving average price of $16.06. The company has a market cap of $714.17 million, a PE ratio of 2.54 and a beta of 1.64. Par Pacific Holdings, Inc. has a one year low of $11.86 and a one year high of $33.13. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.64). Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The firm had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.68 billion. On average, equities analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PARR. The Goldman Sachs Group raised shares of Par Pacific from a "neutral" rating to a "buy" rating and raised their target price for the stock from $18.00 to $19.00 in a research note on Thursday, March 27th. TD Cowen reduced their target price on shares of Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Piper Sandler cut their target price on shares of Par Pacific from $25.00 to $21.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Raymond James began coverage on Par Pacific in a research report on Friday, January 24th. They set an "outperform" rating and a $25.00 target price on the stock. Finally, StockNews.com downgraded shares of Par Pacific from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $20.68.

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.