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

Rangeley Capital LLC purchased a new stake in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 129,103 shares of the company's stock, valued at approximately $2,116,000. Par Pacific accounts for about 1.9% of Rangeley Capital LLC's holdings, making the stock its 19th biggest holding. Rangeley Capital LLC owned 0.23% of Par Pacific as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PARR. Charles Schwab Investment Management Inc. lifted its position in Par Pacific by 22.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 909,220 shares of the company's stock valued at $14,902,000 after acquiring an additional 167,594 shares in the last quarter. State Street Corp grew its holdings in Par Pacific by 10.5% during the third quarter. State Street Corp now owns 3,461,282 shares of the company's stock worth $60,919,000 after buying an additional 328,325 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Par Pacific by 126.2% during the 4th quarter. Sanctuary Advisors LLC now owns 49,256 shares of the company's stock valued at $843,000 after acquiring an additional 27,480 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Par Pacific by 7.4% in 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 worth $2,248,000 after acquiring an additional 8,844 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Par Pacific by 10.1% during the third quarter. Barclays PLC now owns 469,640 shares of the company's stock valued at $8,265,000 after purchasing an additional 42,930 shares in the last quarter. Institutional investors own 92.15% of the company's stock.

Wall Street Analyst Weigh In

PARR has been the topic of a number of recent analyst reports. TD Cowen dropped their price target on Par Pacific from $21.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. The Goldman Sachs Group upgraded shares of Par Pacific from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $18.00 to $19.00 in a research note on Thursday, March 27th. Raymond James initiated coverage on shares of Par Pacific in a report on Friday, January 24th. They set an "outperform" rating and a $25.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler lowered 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $22.71.

Par Pacific Price Performance

PARR stock traded down $0.09 during mid-day trading on Tuesday, hitting $13.71. 567,704 shares of the stock were exchanged, compared to its average volume of 1,040,299. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66. The stock has a market capitalization of $750.70 million, a price-to-earnings ratio of 2.67 and a beta of 1.64. The business has a fifty day moving average price of $14.94 and a 200 day moving average price of $16.32. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $39.55.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.79) EPS 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 business had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $1.68 billion. On average, sell-side analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

About Par Pacific

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.