State Street Corp Purchases 328,325 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

State Street Corp grew its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) by 10.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,461,282 shares of the company's stock after buying an additional 328,325 shares during the quarter. State Street Corp owned 6.19% of Par Pacific worth $60,919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in shares of Par Pacific in the 3rd quarter worth $61,870,000. Millennium Management LLC grew its position in Par Pacific by 48.4% in the 2nd quarter. Millennium Management LLC now owns 1,952,754 shares of the company's stock worth $49,307,000 after purchasing an additional 636,908 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Par Pacific by 160.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 513,254 shares of the company's stock worth $9,033,000 after purchasing an additional 315,967 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Par Pacific by 1,014.3% during the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company's stock worth $4,820,000 after purchasing an additional 249,290 shares during the period. Finally, Thomist Capital Management LP boosted its holdings in shares of Par Pacific by 50.0% in the 2nd quarter. Thomist Capital Management LP now owns 559,277 shares of the company's stock worth $13,095,000 after buying an additional 186,411 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Par Pacific Price Performance

Par Pacific stock traded down $0.68 during mid-day trading on Thursday, hitting $15.14. 1,423,242 shares of the company traded hands, compared to its average volume of 906,919. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.66 and a current ratio of 1.69. Par Pacific Holdings, Inc. has a one year low of $14.84 and a one year high of $40.69. The stock has a market cap of $847.11 million, a price-to-earnings ratio of 2.93 and a beta of 1.99. The stock has a fifty day moving average price of $16.85 and a 200-day moving average price of $20.60.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $1.88 billion. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm's revenue was down 16.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.15 EPS. On average, equities analysts predict that Par Pacific Holdings, Inc. will post 1.12 earnings per share for the current fiscal year.

Insider Activity

In related news, Director William Pate sold 67,700 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.22, for a total transaction of $1,098,094.00. Following the completion of the sale, the director now directly owns 524,610 shares in the company, valued at $8,509,174.20. This represents a 11.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Tudor Pickering raised Par Pacific to a "hold" rating in a report on Monday, September 9th. StockNews.com upgraded Par Pacific from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Piper Sandler downgraded shares of Par Pacific from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $37.00 to $23.00 in a report on Friday, September 20th. Mizuho cut shares of Par Pacific from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $26.00 to $22.00 in a research note on Monday. Finally, JPMorgan Chase & Co. raised shares of Par Pacific from a "neutral" rating to an "overweight" rating and decreased their target price for the stock from $36.00 to $30.00 in a report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $26.50.

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.