MetLife Investment Management LLC Sells 834 Shares of Par Pacific Holdings, Inc. $PARR

MetLife Investment Management LLC reduced its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 33,753 shares of the company’s stock after selling 834 shares during the quarter. MetLife Investment Management LLC owned about 0.07% of Par Pacific worth $481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PARR. Signaturefd LLC raised its holdings in Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock worth $34,000 after purchasing an additional 986 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Par Pacific during the 1st quarter worth about $35,000. CWM LLC boosted its holdings in Par Pacific by 117.5% during the first quarter. CWM LLC now owns 7,158 shares of the company’s stock worth $102,000 after buying an additional 3,867 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Par Pacific by 352.7% during the first quarter. GAMMA Investing LLC now owns 7,556 shares of the company’s stock worth $108,000 after buying an additional 5,887 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Par Pacific by 54.0% during the first quarter. PNC Financial Services Group Inc. now owns 8,220 shares of the company’s stock worth $117,000 after buying an additional 2,884 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on PARR shares. Cowen restated a “buy” rating on shares of Par Pacific in a report on Thursday, August 7th. Piper Sandler raised their target price on Par Pacific from $26.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. The Goldman Sachs Group cut Par Pacific from a “buy” rating to a “neutral” rating and set a $19.00 target price on the stock. in a report on Wednesday, May 28th. TD Cowen reduced their target price on Par Pacific from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Finally, Mizuho set a $34.00 target price on Par Pacific and gave the stock a “neutral” rating in a report on Friday, July 11th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $28.96.

Par Pacific Price Performance

NYSE PARR opened at $33.83 on Monday. The business has a 50 day simple moving average of $31.47 and a 200 day simple moving average of $22.35. Par Pacific Holdings, Inc. has a 52-week low of $11.86 and a 52-week high of $35.94. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.56 and a current ratio of 1.42. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -120.81 and a beta of 1.82.

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

Insider Transactions at Par Pacific

In other Par Pacific news, insider Shawn David Flores sold 8,062 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $34.50, for a total value of $278,139.00. Following the sale, the insider owned 39,089 shares in the company, valued at approximately $1,348,570.50. The trade was a 17.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Terrill Pitkin sold 5,164 shares of the business’s 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 completion of the sale, the senior vice president owned 41,223 shares in the company, valued at $1,153,007.31. The trade was a 11.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,954 shares of company stock worth $796,308. 4.40% of the stock is currently owned by insiders.

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.