Rhumbline Advisers Cuts Holdings in Par Pacific Holdings, Inc. $PARR

Rhumbline Advisers decreased its position in Par Pacific Holdings, Inc. (NYSE:PARR) by 5.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 172,359 shares of the company’s stock after selling 9,581 shares during the period. Rhumbline Advisers owned about 0.33% of Par Pacific worth $2,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PARR. Jane Street Group LLC purchased a new position in Par Pacific in the fourth quarter valued at $981,000. Ameriprise Financial Inc. increased its holdings in Par Pacific by 35.0% in the fourth quarter. Ameriprise Financial Inc. now owns 248,972 shares of the company’s stock valued at $4,081,000 after buying an additional 64,536 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Par Pacific by 52.1% in the fourth quarter. BNP Paribas Financial Markets now owns 67,537 shares of the company’s stock valued at $1,107,000 after buying an additional 23,121 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Par Pacific by 51.3% during the fourth quarter. Bank of America Corp DE now owns 303,442 shares of the company’s stock worth $4,973,000 after purchasing an additional 102,858 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of Par Pacific during the fourth quarter worth about $183,000. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Stock Performance

NYSE:PARR opened at $35.39 on Wednesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.42 and a quick ratio of 0.56. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -126.39 and a beta of 1.82. The company’s 50-day moving average is $32.03 and its two-hundred day moving average is $23.23. Par Pacific Holdings, Inc. has a 1-year low of $11.86 and a 1-year high of $36.39.

Par Pacific (NYSE:PARR) last posted its earnings results on Tuesday, August 5th. The company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.80. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $0.49 EPS. Analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other news, Director Timothy Clossey sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $33.37, for a total value of $66,740.00. Following the transaction, the director directly owned 84,000 shares in the company, valued at approximately $2,803,080. This represents a 2.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Ivan Daniel Guerra sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total transaction of $193,105.00. Following the completion of the transaction, the chief accounting officer owned 17,491 shares in the company, valued at approximately $614,109.01. This represents a 23.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,954 shares of company stock worth $863,048 over the last ninety days. 4.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PARR has been the subject of a number of research reports. Raymond James Financial boosted their target price on shares of Par Pacific from $36.00 to $38.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Mizuho boosted their target price on shares of Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research note on Monday. TD Cowen cut their target price on shares of Par Pacific from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Cowen reissued a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. Finally, Zacks Research upgraded shares of Par Pacific to a “strong-buy” rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Par Pacific currently has a consensus rating of “Moderate Buy” and an average target price of $30.68.

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.