Allspring Global Investments Holdings LLC Purchases 8,863 Shares of Par Pacific Holdings, Inc. $PARR

Allspring Global Investments Holdings LLC grew its stake in Par Pacific Holdings, Inc. (NYSE:PARR) by 50.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,299 shares of the company’s stock after acquiring an additional 8,863 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.05% of Par Pacific worth $942,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PARR. Encompass Capital Advisors LLC bought a new stake in shares of Par Pacific in the 2nd quarter valued at about $34,609,000. Vanguard Group Inc. increased its stake in shares of Par Pacific by 30.9% in the 3rd quarter. Vanguard Group Inc. now owns 5,044,612 shares of the company’s stock valued at $178,680,000 after acquiring an additional 1,190,088 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Par Pacific by 7,787.1% in the 4th quarter. SG Americas Securities LLC now owns 563,930 shares of the company’s stock valued at $19,816,000 after acquiring an additional 556,780 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Par Pacific by 42.8% in the 3rd quarter. American Century Companies Inc. now owns 1,522,392 shares of the company’s stock valued at $53,923,000 after acquiring an additional 456,473 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Par Pacific by 22.1% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,756,161 shares of the company’s stock valued at $62,203,000 after acquiring an additional 317,484 shares during the last quarter. 92.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Par Pacific news, CEO William Monteleone sold 108,948 shares of the company’s stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $54.06, for a total transaction of $5,889,728.88. Following the completion of the transaction, the chief executive officer owned 457,167 shares of the company’s stock, valued at $24,714,448.02. This represents a 19.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.60% of the stock is currently owned by company insiders.

Par Pacific Trading Down 2.2%

PARR opened at $59.37 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of 8.14 and a beta of 0.97. Par Pacific Holdings, Inc. has a 12 month low of $12.17 and a 12 month high of $67.39. The firm’s fifty day simple moving average is $50.38 and its 200 day simple moving average is $42.83. The company has a current ratio of 1.61, a quick ratio of 0.49 and a debt-to-equity ratio of 0.54.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $1.17 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.04). Par Pacific had a net margin of 4.95% and a return on equity of 30.19%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the firm posted ($0.79) earnings per share. The company’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PARR has been the subject of a number of recent analyst reports. Piper Sandler upped their price target on Par Pacific from $63.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday. Wall Street Zen raised Par Pacific from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Par Pacific in a research note on Friday, March 27th. Raymond James Financial increased their target price on Par Pacific from $50.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Finally, Mizuho raised their target price on shares of Par Pacific from $49.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, March 17th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.57.

About Par Pacific

Par Pacific Holdings, Inc (NYSE: PARR) is a diversified downstream energy company engaged in the refining, marketing and logistics of petroleum products. Through its subsidiaries, Par Pacific operates the Par Hawaii Refinery on the island of Oʻahu, which processes crude oil into transportation fuels such as gasoline, diesel and jet fuel, as well as asphalt, petroleum coke and sulfur. In the Rocky Mountain region, the company owns and operates the Salt Lake City Refinery in Utah and associated logistics infrastructure, including pipelines and storage terminals, to support both crude supply and product distribution.

In marketing its refined products, Par Pacific maintains a network of branded and unbranded wholesale accounts across Hawaii and the U.S.