Par Pacific Holdings, Inc. $PARR Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 2.1% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 108,459 shares of the company’s stock after selling 2,300 shares during the quarter. Swiss National Bank owned approximately 0.20% of Par Pacific worth $1,547,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Par Pacific by 70.2% in the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after acquiring an additional 986 shares during the period. CWM LLC grew its position in Par Pacific by 117.5% in the 1st quarter. CWM LLC now owns 7,158 shares of the company’s stock worth $102,000 after purchasing an additional 3,867 shares during the last quarter. GAMMA Investing LLC grew its position in Par Pacific by 352.7% in the 1st quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after purchasing an additional 5,887 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Par Pacific by 54.0% in the first quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company’s stock valued at $117,000 after purchasing an additional 2,884 shares during the period. Finally, Gotham Asset Management LLC bought a new stake in shares of Par Pacific during the fourth quarter valued at approximately $183,000. Institutional investors own 92.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PARR. Raymond James Financial set a $38.00 price objective on Par Pacific and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Piper Sandler lifted 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. TD Cowen reduced their price target on Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Zacks Research raised Par Pacific to a “strong-buy” rating in a research note on Monday, August 11th. Finally, The Goldman Sachs Group lowered Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 price target on the stock. in a report on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Par Pacific has a consensus rating of “Moderate Buy” and a consensus price target of $28.96.

Par Pacific Price Performance

NYSE:PARR opened at $31.0980 on Monday. The company has a quick ratio of 0.56, a current ratio of 1.42 and a debt-to-equity ratio of 0.97. The business’s 50-day moving average price is $30.05 and its 200 day moving average price is $21.10. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.32. The firm has a market cap of $1.58 billion, a P/E ratio of -111.06 and a beta of 1.83.

Par Pacific (NYSE:PARR) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.80. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.47 billion. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. Par Pacific’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. As a group, sell-side analysts predict that Par Pacific Holdings, Inc. will post 0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Par Pacific news, SVP Terrill Pitkin sold 5,164 shares of Par Pacific stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $27.97, for a total value of $144,437.08. Following the transaction, the senior vice president owned 41,223 shares in the company, valued at approximately $1,153,007.31. The trade was a 11.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.40% of the company’s stock.

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.