Allspring Global Investments Holdings LLC Cuts Stock Position in Par Pacific Holdings, Inc. $PARR

Allspring Global Investments Holdings LLC lessened its position in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 5.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,586 shares of the company’s stock after selling 1,015 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Par Pacific were worth $467,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PARR. Farther Finance Advisors LLC lifted its position in shares of Par Pacific by 175.9% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,181 shares of the company’s stock valued at $31,000 after buying an additional 753 shares during the last quarter. Signaturefd LLC lifted its position in shares of Par Pacific by 70.2% during the 1st quarter. Signaturefd LLC now owns 2,391 shares of the company’s stock valued at $34,000 after buying an additional 986 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Par Pacific during the 1st quarter valued at $35,000. Parallel Advisors LLC lifted its position in shares of Par Pacific by 232.9% during the 2nd quarter. Parallel Advisors LLC now owns 1,325 shares of the company’s stock valued at $35,000 after buying an additional 927 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Par Pacific by 17.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,882 shares of the company’s stock valued at $76,000 after buying an additional 428 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company’s stock.

Par Pacific Price Performance

Shares of NYSE PARR opened at $39.97 on Friday. The firm has a market capitalization of $2.03 billion, a P/E ratio of -142.73 and a beta of 1.74. 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 stock’s 50-day simple moving average is $34.79 and its two-hundred day simple moving average is $27.46. Par Pacific Holdings, Inc. has a twelve month low of $11.86 and a twelve month high of $41.64.

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

Analysts Set New Price Targets

PARR has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Wednesday. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 13th. Mizuho increased their price objective on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Zacks Research raised Par Pacific from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Piper Sandler increased their price objective on Par Pacific from $39.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Insiders Place Their Bets

In other Par Pacific news, CAO Ivan Daniel Guerra sold 5,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $35.11, for a total value of $193,105.00. Following the transaction, the chief accounting officer directly owned 17,491 shares in the company, valued at $614,109.01. This represents a 23.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.55, for a total value of $180,627.40. Following the completion of the transaction, the insider owned 24,679 shares in the company, valued at $852,659.45. This represents a 17.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,954 shares of company stock worth $863,048. 4.40% of the stock is owned by corporate 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.