Viking Fund Management LLC Buys Shares of 75,000 Par Pacific Holdings, Inc. (NYSE:PARR)

Viking Fund Management LLC purchased a new position in Par Pacific Holdings, Inc. (NYSE:PARR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 75,000 shares of the company’s stock, valued at approximately $1,229,000.

A number of other large investors have also made changes to their positions in the business. Pacer Advisors Inc. purchased a new position in Par Pacific during the 3rd quarter worth $61,870,000. State Street Corp boosted its holdings in Par Pacific by 10.5% in the third quarter. State Street Corp now owns 3,461,282 shares of the company’s stock worth $60,919,000 after acquiring an additional 328,325 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Par Pacific by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,136,956 shares of the company’s stock worth $53,956,000 after acquiring an additional 17,509 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Par Pacific by 48.4% during the second quarter. Millennium Management LLC now owns 1,952,754 shares of the company’s stock valued at $49,307,000 after acquiring an additional 636,908 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Par Pacific by 0.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,283,303 shares of the company’s stock valued at $22,591,000 after purchasing an additional 7,804 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Par Pacific

In related news, Director William Pate sold 67,700 shares of Par Pacific stock in a transaction that occurred on 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 transaction, the director now owns 524,610 shares in the company, valued at approximately $8,509,174.20. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of Par Pacific from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Par Pacific from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, January 16th. Mizuho lowered Par Pacific from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $26.00 to $22.00 in a research note on Monday, December 16th. Finally, StockNews.com upgraded Par Pacific from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and an average price target of $25.83.

Par Pacific Stock Down 2.5 %

PARR opened at $17.66 on Wednesday. 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 fifty-two week low of $14.84 and a fifty-two week high of $40.69. The company has a fifty day moving average of $16.88 and a two-hundred day moving average of $19.19. The stock has a market capitalization of $987.80 million, a price-to-earnings ratio of 3.42 and a beta of 2.00.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Monday, November 4th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. Par Pacific had a net margin of 3.74% and a return on equity of 10.06%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm posted $3.15 earnings per share. The company’s revenue was down 16.9% compared to the same quarter last year. On average, research analysts expect that Par Pacific Holdings, Inc. will post 0.14 earnings per share for the current year.

Par Pacific 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.