Principal Financial Group Inc. Trims Stock Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Principal Financial Group Inc. lowered its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 345,001 shares of the company’s stock after selling 8,585 shares during the quarter. Principal Financial Group Inc. owned approximately 0.57% of Par Pacific worth $10,074,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of Par Pacific by 10.5% during the 1st quarter. Victory Capital Management Inc. now owns 21,318 shares of the company’s stock valued at $622,000 after purchasing an additional 2,030 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Par Pacific during the 1st quarter valued at about $581,000. SG Americas Securities LLC increased its position in shares of Par Pacific by 244.1% during the 1st quarter. SG Americas Securities LLC now owns 57,812 shares of the company’s stock valued at $1,688,000 after purchasing an additional 41,010 shares during the last quarter. Thomist Capital Management LP increased its position in shares of Par Pacific by 12.8% during the 4th quarter. Thomist Capital Management LP now owns 204,588 shares of the company’s stock valued at $4,757,000 after purchasing an additional 23,211 shares during the last quarter. Finally, Globeflex Capital L P bought a new position in shares of Par Pacific during the 4th quarter valued at approximately $273,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Par Pacific Trading Down 1.4 %

PARR stock opened at $35.29 on Wednesday. Par Pacific Holdings, Inc. has a 1-year low of $14.42 and a 1-year high of $37.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 0.37. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 3.44 and a beta of 2.11. The business has a 50 day simple moving average of $30.51 and a two-hundred day simple moving average of $27.02.

Par Pacific (NYSE:PARR) last posted its quarterly earnings results on Monday, August 7th. The company reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.53. Par Pacific had a return on equity of 73.08% and a net margin of 8.45%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.57 billion. Research analysts anticipate that Par Pacific Holdings, Inc. will post 6.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PARR shares. StockNews.com downgraded Par Pacific from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. TD Cowen cut their price objective on Par Pacific from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. Finally, Piper Sandler boosted their price objective on Par Pacific from $36.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $32.14.

Insiders Place Their Bets

In other news, President William Monteleone sold 14,063 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $34.98, for a total transaction of $491,923.74. Following the completion of the transaction, the president now directly owns 309,720 shares in the company, valued at approximately $10,834,005.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President William Monteleone sold 14,063 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $34.98, for a total transaction of $491,923.74. Following the completion of the transaction, the president now directly owns 309,720 shares in the company, valued at approximately $10,834,005.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Pate sold 115,099 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $34.85, for a total value of $4,011,200.15. Following the transaction, the chief executive officer now owns 483,019 shares of the company’s stock, valued at $16,833,212.15. The disclosure for this sale can be found here. Insiders sold 132,287 shares of company stock worth $4,617,780 in the last three months. 4.90% of the stock is owned by company insiders.

Par Pacific Company Profile

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through three segments: Refining, Retail, and Logistics. The Refining segment owns and operates three refineries that produces ultra-low sulfur diesel, gasoline, jet fuel, marine fuel, distillate, asphalt, low sulfur fuel oil, and other associated refined products primarily for consumption in Hawaii, Pacific Northwest, Wyoming, and South Dakota.