Allworth Financial LP lowered its position in Par Pacific Holdings, Inc. (NYSE:PARR – Free Report) by 33.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,674 shares of the company’s stock after selling 9,570 shares during the quarter. Allworth Financial LP’s holdings in Par Pacific were worth $656,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in Par Pacific during the 3rd quarter worth about $44,000. Aster Capital Management DIFC Ltd purchased a new stake in Par Pacific during the 3rd quarter worth about $48,000. Smartleaf Asset Management LLC increased its position in Par Pacific by 81.1% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock worth $62,000 after purchasing an additional 1,048 shares in the last quarter. Quadrant Capital Group LLC purchased a new stake in Par Pacific during the 3rd quarter worth about $136,000. Finally, Osaic Holdings Inc. increased its position in Par Pacific by 19.7% during the 2nd quarter. Osaic Holdings Inc. now owns 5,838 shares of the company’s stock worth $154,000 after purchasing an additional 961 shares in the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.
Analyst Upgrades and Downgrades
PARR has been the subject of a number of recent research reports. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 21st. Raymond James Financial lifted their price objective on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Par Pacific in a research report on Friday, March 27th. Piper Sandler lifted their price target on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Finally, Wall Street Zen upgraded Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Sunday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.
Insider Buying and Selling
In other Par Pacific news, CEO William Monteleone sold 108,948 shares of Par Pacific stock in a transaction dated Monday, March 16th. The stock was sold at an average price of $54.06, for a total value of $5,889,728.88. Following the completion of the sale, the chief executive officer owned 457,167 shares in the company, valued at $24,714,448.02. The trade was a 19.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is owned by company insiders.
Par Pacific Stock Up 4.5%
PARR opened at $61.45 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.62 and a quick ratio of 0.60. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 6.86 and a beta of 0.91. The business has a 50-day moving average of $60.88 and a two-hundred day moving average of $47.73. Par Pacific Holdings, Inc. has a 12 month low of $19.28 and a 12 month high of $70.39.
Par Pacific (NYSE:PARR – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.22). The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.94) EPS. On average, research analysts expect that Par Pacific Holdings, Inc. will post 13.72 earnings per share for the current year.
Par Pacific Company Profile
Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.
In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.
Featured Stories
- Five stocks we like better than Par Pacific
- HIVE Weaponizes Power for an AI Pivot
- A Deep Dive Into NVIDIA’s Latest Portfolio Moves
- Brady Corp Wires Up a Massive AI-Powered Breakout
- Why Home Depot’s Sell-Off Could Become a Huge Opportunity
Want to see what other hedge funds are holding PARR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Par Pacific Holdings, Inc. (NYSE:PARR – Free Report).
Receive News & Ratings for Par Pacific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Par Pacific and related companies with MarketBeat.com's FREE daily email newsletter.
