Par Pacific Holdings, Inc. (NYSE:PARR) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,536 shares of the company’s stock after purchasing an additional 7,294 shares during the period. Principal Financial Group Inc. owned approximately 0.51% of Par Pacific worth $3,972,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Solas Capital Management LLC boosted its stake in shares of Par Pacific by 417.7% during the fourth quarter. Solas Capital Management LLC now owns 795,000 shares of the company’s stock valued at $13,030,000 after acquiring an additional 641,423 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Par Pacific by 43.4% during the fourth quarter. Millennium Management LLC now owns 1,936,798 shares of the company’s stock valued at $31,744,000 after purchasing an additional 586,003 shares during the period. Bridgewater Associates LP acquired a new stake in shares of Par Pacific during the fourth quarter worth $9,293,000. Barclays PLC raised its stake in shares of Par Pacific by 53.0% during the 4th quarter. Barclays PLC now owns 718,688 shares of the company’s stock worth $11,779,000 after purchasing an additional 249,048 shares in the last quarter. Finally, CenterBook Partners LP acquired a new stake in shares of Par Pacific in the fourth quarter worth $2,894,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PARR shares. Wall Street Zen cut Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. Raymond James Financial set a $38.00 price objective on shares of Par Pacific and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group decreased their price target on Par Pacific from $20.00 to $14.75 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group downgraded shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a research note on Wednesday, May 28th. Finally, Piper Sandler boosted their target price on Par Pacific from $26.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.68.

Par Pacific Stock Down 1.3%

PARR stock opened at $32.32 on Friday. Par Pacific Holdings, Inc. has a 52 week low of $11.86 and a 52 week high of $35.32. The company has a quick ratio of 0.54, a current ratio of 1.56 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $1.67 billion, a PE ratio of -28.60 and a beta of 1.73. The firm has a 50 day moving average of $25.38 and a 200 day moving average of $18.72.

Par Pacific (NYSE:PARR) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.54). Par Pacific had a negative net margin of 0.77% and a negative return on equity of 5.87%. The company had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period last year, the firm posted $0.69 earnings per share. Par Pacific’s revenue was down 11.9% on a year-over-year basis. Sell-side analysts forecast that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current year.

Par Pacific Company Profile

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.