Allspring Global Investments Holdings LLC Decreases Stake in Par Pacific Holdings, Inc. (NYSE:PARR)

Allspring Global Investments Holdings LLC trimmed its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 15.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,596 shares of the company’s stock after selling 1,688 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Par Pacific were worth $255,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PARR. Pacer Advisors Inc. boosted its position in Par Pacific by 103.3% during the second quarter. Pacer Advisors Inc. now owns 2,035,157 shares of the company’s stock worth $54,156,000 after purchasing an additional 1,034,006 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Par Pacific by 459.9% in the fourth quarter. Deutsche Bank AG now owns 1,258,201 shares of the company’s stock worth $29,253,000 after acquiring an additional 1,033,480 shares during the last quarter. State Street Corp raised its holdings in shares of Par Pacific by 34.2% in the first quarter. State Street Corp now owns 2,787,761 shares of the company’s stock worth $36,297,000 after acquiring an additional 710,461 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Par Pacific by 14.3% in the third quarter. Vanguard Group Inc. now owns 4,080,201 shares of the company’s stock worth $66,956,000 after acquiring an additional 508,925 shares during the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Par Pacific by 82.2% in the first quarter. Renaissance Technologies LLC now owns 961,800 shares of the company’s stock worth $28,085,000 after acquiring an additional 433,800 shares during the last quarter. 92.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Par Pacific news, insider Jeffrey Ryan Hollis sold 3,125 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $36.69, for a total transaction of $114,656.25. Following the transaction, the insider now owns 14,590 shares of the company’s stock, valued at approximately $535,307.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Jeffrey Ryan Hollis sold 3,125 shares of Par Pacific stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $36.69, for a total transaction of $114,656.25. Following the sale, the insider now directly owns 14,590 shares in the company, valued at $535,307.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President William Monteleone sold 14,063 shares of Par Pacific stock in a transaction on Monday, August 14th. The shares were sold at an average price of $34.98, for a total value of $491,923.74. Following the transaction, the president now owns 309,720 shares in the company, valued at $10,834,005.60. The disclosure for this sale can be found here. Insiders have sold a total of 132,287 shares of company stock valued at $4,617,780 in the last quarter. Insiders own 4.90% of the company’s stock.

Par Pacific Trading Up 3.6 %

NYSE:PARR opened at $32.87 on Friday. The company has a quick ratio of 0.37, a current ratio of 1.12 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $33.71 and its two-hundred day moving average is $29.42. Par Pacific Holdings, Inc. has a 52 week low of $19.39 and a 52 week high of $37.50. The company has a market cap of $1.99 billion, a PE ratio of 3.83 and a beta of 2.04.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PARR. StockNews.com began coverage on Par Pacific in a report on Thursday, October 5th. They issued a “hold” rating for the company. The Goldman Sachs Group boosted their price target on Par Pacific from $31.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, September 1st. Finally, Piper Sandler boosted their price target on Par Pacific from $36.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Par Pacific currently has a consensus rating of “Hold” and an average price target of $35.40.

About Par Pacific

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.