Viking Fund Management LLC Purchases New Shares in Par Pacific Holdings, Inc. (NYSE:PARR)

Viking Fund Management LLC purchased a new position in Par Pacific Holdings, Inc. (NYSE:PARR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 75,000 shares of the company's stock, valued at approximately $1,229,000. Viking Fund Management LLC owned approximately 0.13% of Par Pacific at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its stake in Par Pacific by 160.2% during 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 lifted its position in Par Pacific by 1,014.3% in the 3rd quarter. Walleye Capital LLC now owns 273,868 shares of the company's stock valued at $4,820,000 after acquiring an additional 249,290 shares in the last quarter. State Street Corp boosted its stake in Par Pacific by 10.5% in the 3rd quarter. State Street Corp now owns 3,461,282 shares of the company's stock worth $60,919,000 after purchasing an additional 328,325 shares during the period. Algert Global LLC increased its holdings in Par Pacific by 63.8% during the 3rd quarter. Algert Global LLC now owns 303,970 shares of the company's stock worth $5,350,000 after purchasing an additional 118,393 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Par Pacific by 7.4% in the third 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 purchasing an additional 8,844 shares in the last quarter. Institutional investors and hedge funds own 92.15% of the company's stock.

Insider Activity at Par Pacific

In other Par Pacific news, Director William Pate sold 67,700 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.22, for a total value of $1,098,094.00. Following the transaction, the director now directly owns 524,610 shares of the company's stock, valued at $8,509,174.20. This represents a 11.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.40% of the stock is owned by company insiders.

Par Pacific Stock Performance

PARR stock traded down $0.50 during trading hours on Wednesday, reaching $17.11. The stock had a trading volume of 885,869 shares, compared to its average volume of 872,367. The stock has a 50-day simple moving average of $16.88 and a 200 day simple moving average of $19.19. Par Pacific Holdings, Inc. has a fifty-two week low of $14.84 and a fifty-two week high of $40.69. The stock has a market capitalization of $957.53 million, a PE ratio of 3.32 and a beta of 2.00. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.69 and a quick ratio of 0.66.

Par Pacific (NYSE:PARR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Par Pacific had a return on equity of 10.06% and a net margin of 3.74%. The business had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $1.88 billion. During the same quarter last year, the company posted $3.15 earnings per share. Par Pacific's quarterly revenue was down 16.9% on a year-over-year basis. Analysts predict that Par Pacific Holdings, Inc. will post 0.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PARR shares. The Goldman Sachs Group decreased their price objective on Par Pacific from $26.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, December 19th. StockNews.com upgraded shares of Par Pacific from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Mizuho downgraded shares of Par Pacific from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $26.00 to $22.00 in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Par Pacific from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, January 16th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of "Hold" and a consensus target price of $25.83.

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.