Principal Financial Group Inc. Sells 35,900 Shares of Par Pacific Holdings, Inc. $PARR

Principal Financial Group Inc. cut its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 8.8% in the first quarter, Holdings Channel.com reports. The firm owned 372,022 shares of the company’s stock after selling 35,900 shares during the quarter. Principal Financial Group Inc.’s holdings in Par Pacific were worth $23,303,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of Par Pacific by 23.9% during the 1st quarter. Royal Bank of Canada now owns 23,453 shares of the company’s stock worth $334,000 after buying an additional 4,525 shares during the period. AQR Capital Management LLC lifted its position in Par Pacific by 118.2% during the first quarter. AQR Capital Management LLC now owns 164,358 shares of the company’s stock worth $2,344,000 after acquiring an additional 89,023 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Par Pacific by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,304 shares of the company’s stock worth $461,000 after acquiring an additional 1,427 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Par Pacific by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,241 shares of the company’s stock valued at $2,085,000 after purchasing an additional 6,618 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of Par Pacific by 352.7% during the first quarter. Jane Street Group LLC now owns 270,835 shares of the company’s stock worth $3,862,000 after purchasing an additional 211,002 shares during the period. Institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of PARR opened at $77.72 on Tuesday. The firm has a market cap of $3.90 billion, a PE ratio of 8.67 and a beta of 0.82. Par Pacific Holdings, Inc. has a 52-week low of $26.83 and a 52-week high of $79.26. The business’s 50 day moving average price is $59.30 and its two-hundred day moving average price is $53.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 1.62.

Par Pacific (NYSE:PARR) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.22). Par Pacific had a net margin of 6.02% and a return on equity of 34.38%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned ($0.94) EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities analysts anticipate that Par Pacific Holdings, Inc. will post 17.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PARR. Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research note on Wednesday, June 24th. Raymond James Financial lifted their target price on Par Pacific from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Wall Street Zen raised shares of Par Pacific from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 17th. Benchmark reaffirmed a “buy” rating on shares of Par Pacific in a research report on Wednesday, July 8th. Finally, Piper Sandler boosted their price objective on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

About Par Pacific

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 O?ahu, 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.