Par Pacific Holdings, Inc. $PARR Position Trimmed by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. cut its holdings in Par Pacific Holdings, Inc. (NYSE:PARR) by 53.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,467 shares of the company’s stock after selling 25,654 shares during the period. First Citizens Bank & Trust Co.’s holdings in Par Pacific were worth $796,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership lifted its holdings in Par Pacific by 89.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,438,677 shares of the company’s stock worth $38,168,000 after acquiring an additional 681,190 shares during the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Par Pacific during the 2nd quarter worth approximately $34,609,000. FJ Investments LLC bought a new stake in shares of Par Pacific in the 2nd quarter worth approximately $26,294,000. Walleye Capital LLC lifted its holdings in shares of Par Pacific by 48.5% in the 2nd quarter. Walleye Capital LLC now owns 630,303 shares of the company’s stock worth $16,722,000 after purchasing an additional 205,754 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Par Pacific by 376.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 459,641 shares of the company’s stock valued at $12,194,000 after purchasing an additional 363,085 shares during the period. Institutional investors own 92.15% of the company’s stock.

Analyst Ratings Changes

PARR has been the topic of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 target price (up from $38.00) on shares of Par Pacific in a research report on Friday, October 17th. Piper Sandler set a $57.00 price target on shares of Par Pacific in a research report on Monday, January 12th. Zacks Research downgraded shares of Par Pacific from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 16th. The Goldman Sachs Group boosted their target price on shares of Par Pacific from $34.00 to $40.00 and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Par Pacific in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.00.

Par Pacific Stock Performance

Shares of NYSE PARR opened at $34.83 on Tuesday. Par Pacific Holdings, Inc. has a 1 year low of $11.86 and a 1 year high of $48.40. The firm has a market cap of $1.75 billion, a P/E ratio of 7.33 and a beta of 1.24. The stock has a fifty day moving average price of $39.53 and a two-hundred day moving average price of $36.48. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.48 and a current ratio of 1.51.

Par Pacific (NYSE:PARR) last posted its quarterly earnings data 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 return on equity of 23.69% and a net margin of 3.15%.The company had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the previous year, the business earned ($0.10) EPS. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. Research analysts forecast that Par Pacific Holdings, Inc. will post 0.15 EPS for the current fiscal year.

Insider Transactions at Par Pacific

In related news, EVP Richard Creamer sold 15,848 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 54,654 shares of the company’s stock, valued at $2,252,837.88. This represents a 22.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Monteleone sold 99,284 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $43.15, for a total transaction of $4,284,104.60. Following the sale, the chief executive officer owned 423,022 shares of the company’s stock, valued at $18,253,399.30. The trade was a 19.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.40% of the stock is currently owned by corporate insiders.

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.