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

Allspring Global Investments Holdings LLC cut its holdings in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 39.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,718 shares of the company’s stock after selling 8,178 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Par Pacific were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of Par Pacific in the first quarter worth about $341,000. Janney Montgomery Scott LLC lifted its holdings in shares of Par Pacific by 5.4% in the first quarter. Janney Montgomery Scott LLC now owns 50,149 shares of the company’s stock worth $1,859,000 after buying an additional 2,589 shares in the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Par Pacific in the first quarter worth about $424,000. Daiwa Securities Group Inc. purchased a new stake in shares of Par Pacific in the first quarter worth about $296,000. Finally, GSA Capital Partners LLP lifted its holdings in shares of Par Pacific by 11.1% in the first quarter. GSA Capital Partners LLP now owns 15,938 shares of the company’s stock worth $591,000 after buying an additional 1,594 shares in the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.

Par Pacific Stock Up 1.0 %

Shares of NYSE PARR opened at $15.61 on Monday. Par Pacific Holdings, Inc. has a one year low of $15.31 and a one year high of $40.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 0.59. The firm’s 50 day simple moving average is $18.61 and its two-hundred day simple moving average is $23.51. The stock has a market capitalization of $879.31 million, a P/E ratio of 2.00 and a beta of 1.99.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.36. Par Pacific had a net margin of 5.43% and a return on equity of 26.40%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period last year, the business earned $1.73 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. As a group, analysts expect that Par Pacific Holdings, Inc. will post 0.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PARR has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of Par Pacific from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, October 9th. Tudor Pickering upgraded shares of Par Pacific to a “hold” rating in a research report on Monday, September 9th. UBS Group decreased their price objective on shares of Par Pacific from $40.00 to $29.00 and set a “neutral” rating on the stock in a research report on Monday, August 19th. JPMorgan Chase & Co. upgraded shares of Par Pacific from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $36.00 to $30.00 in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Par Pacific from $32.00 to $28.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Par Pacific has a consensus rating of “Hold” and an average target price of $28.00.

About Par Pacific

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.