Citigroup Inc. Buys 37,390 Shares of Par Pacific Holdings, Inc. (NYSE:PARR)

Citigroup Inc. increased its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR – Get Rating) by 29.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 163,988 shares of the company’s stock after buying an additional 37,390 shares during the period. Citigroup Inc. owned 0.27% of Par Pacific worth $3,813,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Par Pacific by 3.9% in the 4th quarter. Arizona State Retirement System now owns 13,584 shares of the company’s stock valued at $316,000 after buying an additional 514 shares in the last quarter. American International Group Inc. increased its position in Par Pacific by 2.1% in the 2nd quarter. American International Group Inc. now owns 26,259 shares of the company’s stock valued at $409,000 after acquiring an additional 550 shares during the period. Price T Rowe Associates Inc. MD increased its position in Par Pacific by 2.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 28,525 shares of the company’s stock valued at $445,000 after acquiring an additional 679 shares during the period. PNC Financial Services Group Inc. increased its position in Par Pacific by 12.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,513 shares of the company’s stock valued at $98,000 after acquiring an additional 854 shares during the period. Finally, Legal & General Group Plc increased its position in Par Pacific by 1.0% in the 2nd quarter. Legal & General Group Plc now owns 107,915 shares of the company’s stock valued at $1,682,000 after acquiring an additional 1,029 shares during the period. Institutional investors own 92.76% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PARR. StockNews.com upgraded shares of Par Pacific from a “hold” rating to a “buy” rating in a research report on Friday, May 12th. UBS Group started coverage on shares of Par Pacific in a research note on Wednesday, March 8th. They issued a “neutral” rating and a $34.00 price objective on the stock. TD Cowen reduced their price objective on shares of Par Pacific from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, May 5th. The Goldman Sachs Group upped their price objective on shares of Par Pacific from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, February 14th. Finally, Piper Sandler reduced their price objective on shares of Par Pacific from $39.00 to $34.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Par Pacific has a consensus rating of “Moderate Buy” and a consensus price target of $29.25.

Par Pacific Stock Down 1.1 %

Shares of NYSE PARR opened at $21.41 on Monday. The firm has a market cap of $1.31 billion, a PE ratio of 1.74 and a beta of 2.05. Par Pacific Holdings, Inc. has a 12-month low of $13.72 and a 12-month high of $30.49. The company’s fifty day simple moving average is $25.07 and its 200 day simple moving average is $24.73. The company has a quick ratio of 0.65, a current ratio of 1.24 and a debt-to-equity ratio of 0.61.

Par Pacific (NYSE:PARR – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.28. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.84 billion. Par Pacific had a net margin of 9.65% and a return on equity of 108.48%. As a group, sell-side analysts forecast that Par Pacific Holdings, Inc. will post 4.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, President William Monteleone sold 13,589 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $28.41, for a total transaction of $386,063.49. Following the transaction, the president now owns 304,862 shares in the company, valued at $8,661,129.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Ivan Daniel Guerra sold 7,500 shares of the stock in a transaction dated Tuesday, February 28th. The shares were sold at an average price of $28.28, for a total value of $212,100.00. Following the completion of the sale, the chief accounting officer now owns 18,925 shares in the company, valued at $535,199. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President William Monteleone sold 13,589 shares of the stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $28.41, for a total transaction of $386,063.49. Following the completion of the sale, the president now owns 304,862 shares of the company’s stock, valued at approximately $8,661,129.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,089 shares of company stock worth $657,863. Insiders own 4.90% of the company’s stock.

Par Pacific Company Profile

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Par Pacific Holdings, Inc engages in the operation of energy and infrastructure businesses. It operates through the following segments: Refining, Retail, Logistics, and Other. The Refining segment produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, low sulfur fuel oil, and other associated refined products.