Geode Capital Management LLC decreased its stake in Par Pacific Holdings, Inc. (NYSEAMERICAN:PARR) by 11.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 256,466 shares of the oil and gas company’s stock after selling 32,238 shares during the quarter. Geode Capital Management LLC owned approximately 0.56% of Par Pacific worth $4,944,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of PARR. BlackRock Inc. increased its position in Par Pacific by 76.3% in the fourth quarter. BlackRock Inc. now owns 3,789,929 shares of the oil and gas company’s stock worth $73,069,000 after buying an additional 1,640,205 shares in the last quarter. LSV Asset Management boosted its stake in shares of Par Pacific by 909.4% in the fourth quarter. LSV Asset Management now owns 1,036,606 shares of the oil and gas company’s stock worth $19,985,000 after acquiring an additional 933,906 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Par Pacific by 227.8% in the fourth quarter. Bank of New York Mellon Corp now owns 501,491 shares of the oil and gas company’s stock worth $9,668,000 after acquiring an additional 348,486 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Par Pacific by 63.0% in the fourth quarter. Acadian Asset Management LLC now owns 585,892 shares of the oil and gas company’s stock worth $11,298,000 after acquiring an additional 226,553 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of Par Pacific by 159.6% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 367,938 shares of the oil and gas company’s stock worth $7,094,000 after acquiring an additional 226,198 shares during the period. Institutional investors and hedge funds own 83.57% of the company’s stock.
Separately, Zacks Investment Research raised Par Pacific from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Wednesday, April 11th. Six equities research analysts have rated the stock with a buy rating, Par Pacific currently has a consensus rating of “Buy” and a consensus price target of $21.00.
Shares of Par Pacific stock opened at $18.67 on Thursday. Par Pacific Holdings, Inc. has a 12 month low of $15.90 and a 12 month high of $21.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.09 and a quick ratio of 0.35.
Par Pacific (NYSEAMERICAN:PARR) last announced its quarterly earnings results on Monday, March 5th. The oil and gas company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.35. Par Pacific had a return on equity of 17.03% and a net margin of 2.87%. The company had revenue of $663.06 million during the quarter, compared to analyst estimates of $624.40 million. equities research analysts forecast that Par Pacific Holdings, Inc. will post 1.33 EPS for the current fiscal year.
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About Par Pacific
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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