Rangeley Capital LLC Makes New $2.12 Million Investment in Par Pacific Holdings, Inc. (NYSE:PARR)

Rangeley Capital LLC bought a new stake in Par Pacific Holdings, Inc. (NYSE:PARR) during the 4th quarter, HoldingsChannel reports. The fund bought 129,103 shares of the company’s stock, valued at approximately $2,116,000. Par Pacific comprises approximately 1.9% of Rangeley Capital LLC’s holdings, making the stock its 19th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Par Pacific by 232.5% in the fourth quarter. GAMMA Investing LLC now owns 1,669 shares of the company’s stock valued at $27,000 after buying an additional 1,167 shares in the last quarter. US Bancorp DE grew its stake in shares of Par Pacific by 55.7% during the 4th quarter. US Bancorp DE now owns 1,823 shares of the company’s stock worth $30,000 after purchasing an additional 652 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Par Pacific by 37.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,557 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Par Pacific by 4,804.2% in the fourth quarter. Allworth Financial LP now owns 8,141 shares of the company’s stock valued at $139,000 after purchasing an additional 7,975 shares during the period. Finally, FMR LLC grew its position in Par Pacific by 126.7% during the third quarter. FMR LLC now owns 8,634 shares of the company’s stock worth $152,000 after buying an additional 4,826 shares during the period. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PARR has been the topic of a number of research reports. TD Cowen lowered 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. JPMorgan Chase & Co. cut their target price on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, January 16th. Piper Sandler cut their price objective on Par Pacific from $25.00 to $21.00 and set an “overweight” rating for the company in a research report on Friday, March 7th. StockNews.com downgraded shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Finally, Raymond James started coverage on shares of Par Pacific in a report on Friday, January 24th. They set an “outperform” rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Par Pacific currently has an average rating of “Hold” and a consensus target price of $22.71.

Par Pacific Stock Performance

NYSE PARR opened at $15.01 on Thursday. The business’s 50-day simple moving average is $15.19 and its 200-day simple moving average is $16.47. The firm has a market capitalization of $821.77 million, a P/E ratio of 2.91 and a beta of 2.01. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $40.20. 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) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.79) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.64). Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The firm had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $1.68 billion. Equities analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Par Pacific Company 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.