Par Pacific Holdings, Inc. $PARR Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 0.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,032,333 shares of the company’s stock after selling 12,279 shares during the period. Vanguard Group Inc. owned approximately 0.10% of Par Pacific worth $176,836,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in shares of Par Pacific during the third quarter valued at about $44,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Par Pacific during the third quarter valued at about $48,000. Nisa Investment Advisors LLC increased its position in shares of Par Pacific by 16.2% during the third quarter. Nisa Investment Advisors LLC now owns 1,855 shares of the company’s stock valued at $66,000 after acquiring an additional 259 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Par Pacific by 81.1% during the second quarter. Smartleaf Asset Management LLC now owns 2,340 shares of the company’s stock valued at $62,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in shares of Par Pacific during the third quarter valued at about $136,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PARR has been the subject of a number of recent analyst reports. The Goldman Sachs Group upgraded shares of Par Pacific from a “neutral” rating to a “buy” rating and lifted their price target for the company from $53.00 to $77.00 in a research report on Friday, April 10th. TD Cowen raised their price objective on shares of Par Pacific from $39.00 to $48.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Mizuho raised their price objective on shares of Par Pacific from $49.00 to $58.00 and gave the company a “neutral” rating in a research note on Tuesday, March 17th. Wall Street Zen lowered shares of Par Pacific from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler raised their price objective on shares of Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insiders Place Their Bets

In related news, CEO William Monteleone sold 108,948 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $54.06, for a total value of $5,889,728.88. Following the sale, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This trade represents a 19.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by company insiders.

Par Pacific Trading Up 0.2%

NYSE PARR opened at $64.53 on Monday. The firm has a 50 day simple moving average of $58.30 and a 200-day simple moving average of $46.44. 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 Holdings, Inc. has a one year low of $17.48 and a one year high of $70.39. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 7.20 and a beta of 0.91.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.78 billion. During the same period in the previous year, the business posted ($0.94) EPS. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Par Pacific Holdings, Inc. will post 14.07 EPS for the current fiscal year.

Par Pacific 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 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.