Bank of New York Mellon Corp Has $5.99 Million Position in Par Pacific Holdings, Inc. (NYSE:PARR)

Bank of New York Mellon Corp reduced its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 419,997 shares of the company’s stock after selling 7,113 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.77% of Par Pacific worth $5,989,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PARR. SummerHaven Investment Management LLC lifted its stake in shares of Par Pacific by 2.7% in the first quarter. SummerHaven Investment Management LLC now owns 33,018 shares of the company’s stock worth $471,000 after buying an additional 860 shares during the last quarter. Mariner LLC raised its stake in shares of Par Pacific by 7.7% in the 4th quarter. Mariner LLC now owns 15,136 shares of the company’s stock valued at $248,000 after buying an additional 1,086 shares in the last quarter. Legal & General Group Plc increased its position in shares of Par Pacific by 0.8% during the 4th quarter. Legal & General Group Plc now owns 150,322 shares of the company’s stock worth $2,464,000 after purchasing an additional 1,156 shares in the last quarter. Bank of Montreal Can increased its position in shares of Par Pacific by 8.9% during the 4th quarter. Bank of Montreal Can now owns 16,522 shares of the company’s stock worth $271,000 after purchasing an additional 1,351 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Par Pacific by 821.5% in the fourth quarter. Sterling Capital Management LLC now owns 1,714 shares of the company’s stock valued at $28,000 after buying an additional 1,528 shares during the last quarter. 92.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on PARR. The Goldman Sachs Group cut shares of Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Wednesday, May 28th. Mizuho set a $34.00 price objective on shares of Par Pacific and gave the stock a “neutral” rating in a research note on Friday, July 11th. UBS Group reduced their price objective on shares of Par Pacific from $20.00 to $14.75 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Raymond James Financial set a $38.00 price target on shares of Par Pacific and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, Wall Street Zen lowered shares of Par Pacific from a “hold” rating to a “sell” rating in a research note on Friday, June 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Par Pacific presently has a consensus rating of “Hold” and an average target price of $26.68.

Par Pacific Stock Up 1.0%

Par Pacific stock opened at $32.58 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.56 and a debt-to-equity ratio of 1.04. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $35.32. The firm’s fifty day moving average is $26.47 and its 200 day moving average is $19.16. The company has a market capitalization of $1.68 billion, a PE ratio of -28.83 and a beta of 1.73.

Par Pacific (NYSE:PARR) last posted its earnings results on Monday, May 5th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.54). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.49 billion. Par Pacific had a negative return on equity of 5.87% and a negative net margin of 0.77%. The business’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 EPS. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Par Pacific 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.