12,600 Par Pacific Holdings, Inc. $PARR Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 8.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 128,300 shares of the company’s stock after selling 12,600 shares during the period. Hennessy Advisors Inc.’s holdings in Par Pacific were worth $10,472,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Par Pacific in the 2nd quarter valued at approximately $3,017,000. The Manufacturers Life Insurance Company increased its holdings in shares of Par Pacific by 170.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 62,505 shares of the company’s stock worth $3,916,000 after acquiring an additional 39,404 shares during the period. SummerHaven Investment Management LLC bought a new stake in shares of Par Pacific during the third quarter valued at approximately $2,625,000. Pacer Advisors Inc. bought a new position in shares of Par Pacific in the first quarter worth $16,277,000. Finally, Engineers Gate Manager LP increased its stake in Par Pacific by 93.1% during the 2nd quarter. Engineers Gate Manager LP now owns 111,477 shares of the company’s stock valued at $6,252,000 after buying an additional 53,737 shares during the period. 92.15% of the stock is owned by institutional investors.

Insider Transactions at Par Pacific

In other news, insider Danielle Mattiussi sold 3,278 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $67.29, for a total transaction of $220,576.62. Following the transaction, the insider owned 27,878 shares in the company, valued at approximately $1,875,910.62. The trade was a 10.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William Monteleone sold 40,000 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $81.30, for a total value of $3,252,000.00. Following the transaction, the chief executive officer owned 457,167 shares in the company, valued at $37,167,677.10. This represents a 8.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 54,248 shares of company stock worth $4,394,057. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PARR shares. Weiss Ratings raised Par Pacific from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Mizuho lowered shares of Par Pacific from an “outperform” rating to a “neutral” rating and set a $91.00 price target on the stock. in a research report on Thursday, October 8th. Raymond James Financial restated an “outperform” rating and set a $117.00 price objective on shares of Par Pacific in a report on Monday, October 19th. The Goldman Sachs Group lowered Par Pacific from a “buy” rating to a “neutral” rating and increased their target price for the company from $90.00 to $94.00 in a report on Thursday, October 15th. Finally, TD Cowen decreased their price target on shares of Par Pacific from $100.00 to $95.00 and set a “buy” rating for the company in a report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Par Pacific has an average rating of “Moderate Buy” and a consensus target price of $90.43.

Par Pacific Price Performance

Shares of Par Pacific stock opened at $76.20 on Monday. The company has a current ratio of 1.84, a quick ratio of 0.76 and a debt-to-equity ratio of 0.38. Par Pacific Holdings, Inc. has a 1-year low of $34.37 and a 1-year high of $90.74. The firm has a fifty day simple moving average of $81.36 and a 200-day simple moving average of $63.93. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 4.45 and a beta of 0.82.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $10.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.22 by $1.88. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.40 billion. Par Pacific had a return on equity of 56.19% and a net margin of 9.94%. The firm’s revenue was up 56.8% compared to the same quarter last year. During the same period last year, the business posted $1.54 earnings per share. On average, sell-side analysts expect that Par Pacific Holdings, Inc. will post 26.42 earnings per share for the current year.

Par Pacific Company Profile

Par Pacific Holdings, Inc is an energy company engaged in refining, marketing and distributing transportation fuels and other petroleum products. Its refineries process crude oil into products such as gasoline, diesel, jet fuel, marine fuels and asphalt, serving customers in western U.S. markets.

The company operates refining and related energy businesses in Hawaii, Wyoming and Washington. Its operations also include logistics assets such as storage facilities, pipelines, terminals and other infrastructure used to move and distribute crude oil and refined products.