PNC Financial Services Group Inc. Raises Holdings in Par Pacific Holdings, Inc. (NYSE:PARR)

PNC Financial Services Group Inc. boosted its stake in Par Pacific Holdings, Inc. (NYSE:PARRFree Report) by 17.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,920 shares of the company’s stock after buying an additional 1,024 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Par Pacific were worth $252,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its position in shares of Par Pacific by 14.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,243,068 shares of the company’s stock valued at $44,676,000 after acquiring an additional 154,571 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Par Pacific during the 3rd quarter worth about $5,295,000. American Century Companies Inc. grew its holdings in shares of Par Pacific by 14.6% during the third quarter. American Century Companies Inc. now owns 727,232 shares of the company’s stock worth $26,137,000 after buying an additional 92,537 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in shares of Par Pacific in the third quarter valued at approximately $2,564,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in Par Pacific by 104.8% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 101,400 shares of the company’s stock worth $3,644,000 after acquiring an additional 51,900 shares during the last quarter. Institutional investors and hedge funds own 92.15% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Piper Sandler reduced their price target on Par Pacific from $47.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. TD Cowen decreased their price target on Par Pacific from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com downgraded shares of Par Pacific from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Par Pacific presently has an average rating of “Hold” and a consensus price target of $39.25.

View Our Latest Stock Report on Par Pacific

Par Pacific Price Performance

PARR stock opened at $24.98 on Friday. The stock has a 50-day moving average price of $31.06 and a two-hundred day moving average price of $34.36. The company has a market cap of $1.45 billion, a PE ratio of 3.13 and a beta of 1.99. The company has a current ratio of 1.28, a quick ratio of 0.50 and a debt-to-equity ratio of 0.49. Par Pacific Holdings, Inc. has a 12-month low of $23.02 and a 12-month high of $40.69.

Par Pacific (NYSE:PARRGet Free Report) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.06). Par Pacific had a net margin of 5.71% and a return on equity of 35.02%. The business had revenue of $1.98 billion during the quarter, compared to analysts’ expectations of $2.12 billion. As a group, research analysts predict that Par Pacific Holdings, Inc. will post 3.71 EPS for the current year.

Insider Activity

In related news, insider Jeffrey Ryan Hollis sold 4,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $37.39, for a total transaction of $175,733.00. Following the transaction, the insider now directly owns 13,176 shares of the company’s stock, valued at approximately $492,650.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Par Pacific news, insider Jeffrey Ryan Hollis sold 4,700 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $37.39, for a total value of $175,733.00. Following the transaction, the insider now owns 13,176 shares in the company, valued at approximately $492,650.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Ivan Daniel Guerra sold 6,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $37.49, for a total transaction of $224,940.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,200 shares of the company’s stock, valued at $607,338. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

Par Pacific Profile

(Free Report)

Par Pacific Holdings, Inc owns and operates energy and infrastructure businesses. The company operates through Refining, Retail, and Logistics segments. The Refining segment owns and operates refineries that produce gasoline, distillate, asphalt, and other products primarily for consumption in Kapolei, Hawaii, Newcastle, Wyoming, Tacoma, Washington, and Billings, Montana.

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Institutional Ownership by Quarter for Par Pacific (NYSE:PARR)

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