Allworth Financial LP Raises Stock Holdings in Par Pacific Holdings, Inc. $PARR

Allworth Financial LP raised its stake in shares of Par Pacific Holdings, Inc. (NYSE:PARR) by 507.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 50,699 shares of the company’s stock after acquiring an additional 42,359 shares during the period. Allworth Financial LP owned approximately 0.10% of Par Pacific worth $1,345,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PARR. FJ Investments LLC purchased a new position in shares of Par Pacific during the second quarter valued at approximately $26,294,000. Savant Capital LLC bought a new stake in Par Pacific in the 2nd quarter worth approximately $271,000. Yorktown Management & Research Co Inc bought a new stake in Par Pacific in the 2nd quarter worth approximately $263,000. First Pacific Advisors LP raised its stake in Par Pacific by 1.1% during the 2nd quarter. First Pacific Advisors LP now owns 72,632 shares of the company’s stock valued at $1,927,000 after buying an additional 820 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Par Pacific during the 2nd quarter valued at $1,419,000. 92.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Zacks Research upgraded Par Pacific from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 22nd. UBS Group increased their target price on Par Pacific from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Wednesday, November 5th. The Goldman Sachs Group raised their target price on Par Pacific from $34.00 to $40.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of Par Pacific in a research note on Thursday, August 7th. Finally, Tudor Pickering raised shares of Par Pacific from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.

Insider Activity

In other news, EVP Richard Creamer sold 15,848 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $41.22, for a total transaction of $653,254.56. Following the sale, the executive vice president directly owned 54,654 shares in the company, valued at $2,252,837.88. This trade represents a 22.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey Ryan Hollis sold 5,228 shares of Par Pacific stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $34.55, for a total transaction of $180,627.40. Following the transaction, the insider owned 24,679 shares in the company, valued at approximately $852,659.45. This trade represents a 17.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 36,638 shares of company stock worth $1,371,866. 4.40% of the stock is currently owned by insiders.

Par Pacific Trading Down 0.4%

Shares of NYSE:PARR opened at $40.91 on Friday. The stock has a 50 day moving average of $37.05 and a 200 day moving average of $30.22. The company has a market cap of $2.06 billion, a PE ratio of -146.09 and a beta of 1.74. Par Pacific Holdings, Inc. has a 12-month low of $11.86 and a 12-month high of $44.52. The company has a current ratio of 1.42, a quick ratio of 0.56 and a debt-to-equity ratio of 0.97.

Par Pacific (NYSE:PARR) last released its earnings results on Tuesday, November 4th. The company reported $5.95 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $3.97. Par Pacific had a negative net margin of 0.25% and a negative return on equity of 1.79%. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same quarter last year, the business earned ($0.10) EPS. The firm’s revenue was down 6.1% compared to the same quarter last year. As a group, equities research analysts expect that Par Pacific Holdings, Inc. will post 0.15 EPS for the current year.

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.