Par Pacific Holdings, Inc. $PARR Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 49.4% during the third quarter, HoldingsChannel.com reports. The firm owned 33,244 shares of the company’s stock after selling 32,461 shares during the period. Mutual Advisors LLC’s holdings in Par Pacific were worth $1,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AlphaQuest LLC raised its position in shares of Par Pacific by 58.5% during the 3rd quarter. AlphaQuest LLC now owns 17,916 shares of the company’s stock worth $635,000 after purchasing an additional 6,610 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Par Pacific by 9.8% in the third quarter. New York State Common Retirement Fund now owns 79,422 shares of the company’s stock worth $2,813,000 after acquiring an additional 7,102 shares during the last quarter. Federated Hermes Inc. purchased a new stake in Par Pacific during the 3rd quarter worth about $44,000. Vanguard Personalized Indexing Management LLC acquired a new position in Par Pacific in the 3rd quarter valued at about $214,000. Finally, Mutual of America Capital Management LLC acquired a new position in Par Pacific in the 3rd quarter valued at about $201,000. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PARR has been the topic of several analyst reports. Mizuho raised their target price on Par Pacific from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Piper Sandler set a $57.00 price target on shares of Par Pacific in a research note on Monday, January 12th. Tudor, Pickering, Holt & Co. upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a report on Thursday, November 6th. Raymond James Financial reissued an “outperform” rating and issued a $45.00 price objective (up from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Finally, The Goldman Sachs Group increased their target price on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.00.

Insider Transactions at Par Pacific

In other news, CEO William Monteleone sold 99,284 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the completion of the sale, the chief executive officer owned 423,022 shares of the company’s stock, valued at approximately $18,253,399.30. This trade represents a 19.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.40% of the company’s stock.

Par Pacific Price Performance

NYSE PARR opened at $40.26 on Thursday. Par Pacific Holdings, Inc. has a 12 month low of $11.86 and a 12 month high of $48.40. The firm has a market capitalization of $2.02 billion, a PE ratio of 8.48 and a beta of 1.23. The company’s 50 day simple moving average is $38.56 and its 200 day simple moving average is $36.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.51 and a quick ratio of 0.48.

Par Pacific (NYSE:PARR) last announced its earnings results on Tuesday, November 4th. The company reported $5.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. The company had revenue of $2.01 billion for the quarter, compared to analyst estimates of $1.72 billion. Par Pacific had a return on equity of 23.69% and a net margin of 3.15%.Par Pacific’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.10) earnings per share. As a group, equities research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal 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.